ECB Holds Rates, Warns of Energy-Driven Inflation Risks Ahead

Published: Jul 24, 2026 09:40

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[SMM Precious Metal Express] The European Central Bank kept its three key interest rates unchanged, in line with expectations. The statement noted that the full impact of the energy shock on inflation has yet to materialize, with Lagarde warning that the longer energy prices stay elevated, the greater the risk of second-round effects on broader inflation. Some Governing Council members reportedly argued for an immediate hike but agreed to wait for more data in September. Markets have nearly fully priced in two more rate hikes by year-end.

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