The euro fell after the European Central Bank hiked interest rates and warned that inflation is still too high.
The bank expects inflation to slow to 2.1% only in 2025.
The eurozone’s GDP growth outlook for 2023 is also downgraded to 0.7% from 0.9%, for 2024 to 1% from 1.5% and for 2025 to 1.5% from 1.6%.