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.

20 March 2026, 7:08 AM

Economic Calendar: Inflation in Germany and Canada in the Spotlight

19 March 2026, 1:54 PM

ECB chair, Christine Lagarde press conference (LIVE)

19 March 2026, 1:20 PM

BREAKING: ECB holds interest rates unchanged 📊EURUSD reacts

19 March 2026, 12:54 PM

US100 falls after strong US macro reports 🚩

Economic reports

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