BREAKING: ECB minutes show bankers' uncertainty about further rate hikes!

Initially, ECB members showed no inclination to raise rates in July
However, a built consensus eventually allowed for a 25 basis point increase
Too much focus on September, according to ECB members
It was indicated that September projections may show a significant drop in inflation to the target within the forecast period, which could mean that a September increase won't be necessary
Significant concerns about stagflation
Core inflation remains too high
The risk of a wage spiral is rather low

Clearly dovish minutes cast doubt on a September rate hike, even with a significant surprise of higher inflation. Nevertheless, as can be seen, there is a good chance that September projections will indicate inflation within the target in the forecast period, which won't justify another cut. EURUSD is already testing the vicinity of 1.0850.

15 May 2026, 7:21 PM

Daily summary: A week closed with declines – is the market starting to fear inflation?

15 May 2026, 7:24 AM

Economic Calendar: Global Data Focus Shifts to US and Canada,

14 May 2026, 12:18 PM

Market Wrap: What does Trump's Beijing visit mean for the markets?

14 May 2026, 7:31 AM

Economic Calendar: All eyes on US consumer 🇺🇸 (14.05.2026)

Economic reports

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