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ECB Insight: Lagarde Confirms Hike Was Considered, Keeps September Open

ECB Insight: Lagarde Confirms Hike Was Considered, Keeps September Open

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday broadly delivered the expected communication mix, acknowledging, as we anticipated earlier in the day, that some governors had “asked themselves whether we should not consider a hike” while resisting every invitation to turn that discussion into guidance for September.

23 July 2026

ECB Tone Meter

Entire Governing Council

27 Members
Very Dovish
Very Hawkish

Executive Board

6 Members
Very Dovish
Very Hawkish

Evolution

Governing Council vs. Executive Board

As of 21 July 2026

Meeting Bias

ECB Governing Council Meeting