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ECB likely to get out of negative rates by September, Lagarde says

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Reuters UK

FRANKFURT (Reuters) -The European Central Bank is likely to lift its deposit rate out of negative territory by the end of September and could raise it further if it sees inflation stabilising at 2%, ECB President Christine Lagarde said on Monday. She was accelerating an already sharp policy turnaround, which has seen her go from all but ruling out rate hikes this year to now pencilling in several in the face of record-high inflation in the euro zone. “Based on the current outlook, we are likely to be in a position to exit negative interest rates by the end of the third quarter,” Lagarde said i…

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