The European Central Bank announced the latest monetary policy decision today at 1:15 pm GMT. Economists expected a 50 basis point rate hike while money markets were inching closer to a 25 basis point move. Ultimately, it turned out that economists were right with ECB deciding on a 50 basis point rate hike.
New set of economic projections points to a lower inflation. Headline inflation in 2023 is seen at 5.3%, down from 6.3% in previous forecast, while core inflation forecast was boosted from 4.2 to 4.6% for 2023. However, core inflation is seen at 2.5% in 2024, down from previous forecast of 2.8%, while headline inflation next year is seen at 2.9%, down from 3.4% in previous forecast.
Commenting on current banking sector turmoil, ECB said that it is monitoring market tensions closely and that it is ready to respond to price stability and financial stability. An important takeaway is that mention of further rates moves has been removed from the statement.
Economic Calendar: Canada's CPI print takes center stage 💡
Morning Wrap: Fragile, but still. Investors are confident that U.S.-Iran talks are making progress⏰
Daily Summary: End of an Extremely Intense Week (19.06.2026)
Economic Calendar: Liquidity Overshadowed by Juneteenth (19.06.2026)
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
