ECB likely to exit negative rates by end of September, says Lagarde

Christine Lagarde, President of the European Central Bank.

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ECB President Christine Lagarde said the European Central Bank is likely to raise deposit rates out of negative territory by the end of September and could raise them further if inflation stabilizes at 2%, ECB President Christine Lagarde said Monday.

“Based on the current outlook, we are likely to exit negative rates by the end of the third quarter,” Lagarde said in a blog post published on the ECB website.

The ECB deposit rate is currently -0.5%, which means banks have to pay cash at the central bank.

“If we see inflation stabilizing at 2% over the medium term, then normalizing interest rates towards neutral would be appropriate,” Lagarde added, even opening the door to further growth, Lagarde added. further rate hikes “if the eurozone economy overheats. ”

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