ECB Eyes December Rate Hike As Inflation Rises
European Central Bank President Christine Lagarde said upcoming data will determine if a December rate hike is needed. Euro zone inflation recently hit a three-year high of four percent, largely driven by energy costs.
The European Central Bank will evaluate incoming economic data before deciding on an interest rate hike in December, outgoing President Christine Lagarde said on Thursday. The central bank kept its key deposit rate steady at 2.5% in October, though policymakers from Germany and Italy have signaled a move is likely next month. Euro zone inflation climbed to 4% in October, driven by food and energy costs.
