Economy· 4 min read
ECB holds rates: Lagarde points to September as an “open window”
The regulator paused as expected. The euro strengthened after the press conference: the market heard fewer dovish signals than it had hoped for.
The European Central Bank left key rates unchanged, pausing after June's cut. The decision matched market expectations, so attention focused on the president's rhetoric.
Christine Lagarde noted that the September meeting remains “wide open” and that further decisions will depend on incoming data. The absence of explicit easing promises was read by the market as a mildly hawkish signal.
EURUSD added 0.3% during the press conference. The spread between German and US 10-year yields narrowed to its tightest since spring, supporting the single currency.
Source: Apex Capital Research Desk