Euro consolidates gains after inflation quickens

London

THE euro climbed half a per cent on Wednesday and was on track for its biggest monthly rise in nearly two years as firm eurozone inflation data for January kept expectations alive for a swift withdrawal of the central bank's stimulus policies.

Though the European Central Bank last week kept policy unchanged and fended off discussions of winding down its massive stimulus programme any time soon, that hasn't prevented some investors from expecting an interest rate hike in the first quarter of 2019.