ECB Preview: One More Rate Hike Without Guidance

Preview: ECB Policy Announcement due on 10th September 2026

• The ECB is set to raise the Deposit Rate by 25bps to 2.50%. A decision backed by elevated inflation, resilient growth and a stable labour market.
• Focus will be on the updated staff projections, where 2027 HICP is expected to be lifted slightly.
• Attention also on any guidance beyond September, though President Lagarde will likely reiterate a data-dependant approach, but hawkish risks dominate.