Lagarde Signals End to ECB’s Negative Interest Rates Experiment

FRANKFURT — The European Central Bank is likely to raise its key interest rate, now negative, to zero in September and possibly further hike rates after that, President Christine Lagarde said, signaling the end of the ECB’s eight-year experiment with negative rates amid record-high inflation and concerns about the euro’s weakness.

The policy change, outlined in an ECB blog post on Monday, follows aggressive actions by the Federal Reserve and other major central banks to phase out easy-to-earn policies. money as inflation heats up globally. It’s part of an aggressive pivot by the eurozone central bank, which until recently signaled that it would only raise interest rates gradually, away from the Fed. Lagarde Signals End to ECB’s Negative Interest Rates Experiment

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