Capital Economics economist Jack Allen-Reynolds said the ECB's decision to hold rates unchanged was unsurprising and the accompanying statement offered almost no signal on the next policy move. He noted the commentary remained neutral despite recent oil price rises and that energy prices are close to the ECB's baseline assumption. Allen-Reynolds said if energy prices fall in the coming months the ECB is likely to keep rates unchanged for the year; if energy prices continue to rise another rate h

Capital Economics economist Jack Allen-Reynolds said the ECB's decision to hold rates unchanged was unsurprising and the accompanying statement offered almost no signal on the next policy move. He noted the commentary remained neutral despite recent oil price rises and that energy prices are close to the ECB's baseline assumption. Allen-Reynolds said if energy prices fall in the coming months the ECB is likely to keep rates unchanged for the year; if energy prices continue to rise another rate hike is likely. He added that if policymakers are targeting a September increase, President Lagarde could hint at that in the press conference.