Lagarde signals first ECB rate hike in July

ECB President Christine Lagarde February 2022

European Central Bank president Christine Lagarde sent clear signals today (May 11) that the eurozone’s first interest rate hike could take place in July.

Lagarde confirmed in a speech the widespread expectation that the central bank will halt all net asset purchases in the third quarter of the year. The ECB’s forward guidance indicates the first rate hike will take place “some time” after purchases are halted.

“We have not yet precisely defined the notion of ‘some time’, but I have been very

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