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ECB seen setting up September rate hike, without plans for another

After the report, EUR/USD recovered most losses and traded near 1.1670 in European trade.

Reported · Written up by our desk · Central Banks

FXStreet cites sources saying the European Central Bank is positioned to hike its key policy rates at the September policy meeting.

The same sources also indicate the ECB has no appetite to raise rates again after the next-month hike.

In European trade following the report, buying interest appears in the euro, helping EUR/USD recover most of its earlier losses, though the pair remained marginally lower near 1.1670.

The ECB sets monetary policy for the euro area with decisions made eight times a year, using interest rates as its primary tool to keep inflation near its 2% price stability objective.

Latest closeEUR/USD 1.157 ▲0.4%

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