Central Banks

Lagarde Says ECB May Hike or Hold Next After Ninth Increase

Deposit rate lifted to 3.75% on Thursday, matching forecasts
Officials’ historic bout of tightening is nearing its end

ECB's Lagarde: September Could Be a Hike, Could Be a PauseSource: Bloomberg

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By Jana Randow, Alexander Weber, and Sonja Wind

July 27, 2023 at 9:23 AM EDT

Updated on

July 27, 2023 at 9:47 AM EDT

This article is for subscribers only.

European Central Bank President Christine Lagarde said officials have an “open mind” on what to do next after lifting interest rates by another quarter-point on Thursday.

A ninth straight increase since last July brought the deposit rate to 3.75% — as economists expected. Officials have flagged that their unprecedented hiking campaign is nearing its end as inflation abates, while still exceeding the 2% target.