Central Banks

ECB Won’t Be Able to Declare Rate Peak Anytime Soon, Lagarde Says

ECB president reiterates plan for another hike at July meeting
‘More persistent policy’ is needed to tackle inflation

WATCH: “It is unlikely that in the near future the central bank will be able to state with full confidence that the peak rates have been reached,” Lagarde says.Source: Bloomberg

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By Alexander Weber and Jana Randow

June 27, 2023 at 8:09 AM UTC

Updated on

June 27, 2023 at 9:43 AM UTC

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The European Central Bank probably won’t be able to declare the end of its historic cycle of interest-rate increases anytime soon, according to President Christine Lagarde.

Signaling that officials in Frankfurt will retain a bias toward monetary tightening even if they pause their hiking campaign in the coming months, Lagarde also reiterated that July will bring a ninth straight boost to borrowing costs to bring down inflation.