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MNI BRIEF: ECB Has More To Do, July Hike Likely- Lagarde

(MNI) London

Despite Thursday's 25-basis point rate hike, the European Central Bank has further to go and another rate hike in July is very likely, President Christine Lagarde said Thursday.

"Are we done? Have we finished the journey? No. We're not at the destination. Do we still have ground to cover? yes, we still have ground to cover," Lagarde said.

"We have further to go and there will, unsurprisingly, likely be another rate hike in July," she said, adding that only a material change to the ECB's baseline outlook would prompt thought of a pause.

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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