Lombard Odier: ECB September Rate Hike Appears All But Certain
2026-07-23 13:01:46
According to Jin10, Lombard Odier analyst Carsten Brzeski said it now seems clear that the European Central Bank’s decision to keep rates unchanged in June was justified, given the decline in inflation and little sign that higher energy prices were feeding through. He said a September rate hike now appears almost certain amid the surge in energy prices, assuming June’s rate increase was not just an insurance move. Brzeski added that the latest rise in energy prices has pushed the ECB into a more severe macroeconomic scenario for the war’s impact, and that unless oil prices start falling sharply in the coming weeks, the ECB’s own September macro projections will clearly call for another rate hike.
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