The European Central Bank left its key rate unchanged at 2.25% on July 23, its first hold since hiking earlier in 2026, but President Christine Lagarde warned that surging oil prices could push the bank to raise rates again at the September meeting. Lagarde said the ECB expects inflation to remain well above target through the first half of 2027.
Shared currency of 21 EU member states and the world's second reserve currency, the euro gives the European Central Bank its primary lever over the eurozone economy.
full dossier ›