Inflation in the 19 countries that share the euro currency hit 7.5% in April
The firm will pay a US$5.5-million penalty but did not admit or deny the SEC's findings
The cautious approach will exasperate a global energy crunch
More rate increases could be in the pipeline based on the latest economic outlook
Reasons include supply bottlenecks, 38% rise in energy prices
Inflation and the war in Ukraine may curb consumer spending this year
Slower normalization could increase divergence in foreign exchange rates
BMO expects a Fed rate hike of 50 bps in May as inflation cuts spending power
In a speech on Thursday, the U.S. Treasury Secretary also advocated for maintaining the dollar's prominence
Unemployment dropped to its lowest rate since the pandemic erupted