Lagarde Pre-Announces Another ECB Rate Hike For July

Summary

• The European Central Bank President, Christine Lagarde, is keeping the door wide open for more interest rate rises this summer.
• Lagarde has been explaining her decision to raise eurozone rates again by 25 basis points today.
• The ECB will not change its tightening stance until core inflation shows clear signs of a turning point.

Thomas Lohnes

By Carsten Brzeski, Global Head of Macro

One month before the first anniversary of what's become the European Central Bank's most aggressive tightening cycle on record, the ECB is continuing its fight against inflation and hiked its policy rate