European Central Bank (ECB)

Money markets held onto bets that the next cut will probably be in September. The euro rose 0.1% to US$1.0880 ($1.47) and 200 characters n 200 characters 200 characters 200 characters 200 character

The deposit rate was left at a record-high 4% — as predicted by all economists surveyed by Bloomberg.

Central banks around the world are poised to begin easing monetary policy as inflation continues to retreat.

'Look, we're waiting to see if what we're seeing on this disinflation is sustainable'

The ECB's decision matched the predictions of all economists surveyed by Bloomberg.

Respondents don’t see any more interest-rate hikes and predict the Governing Council will confirm by Jan that a peak has reached

Officials increased the deposit rate by 25 basis points to a record 4%.

The Belgian central bank chief said July’s meeting — when another hike is all but assured — is too soon.

The deposit rate was lifted to 3% on Thursday — as officials have been flagging since their last meeting six weeks ago.

Without specifying a level for the so-called terminal rate, Lagarde said borrowing costs have further to rise.