The message from the meeting, which this time was held in Amsterdam, is in line with market expectations and with what ECB Governor Christina Lagarde has previously flagged. This is since inflation in the eurozone was measured at a record high of 8.1 per cent in May, which can be compared with the ECB’s inflation target of 2 per cent.
The ECB is now aiming for an interest rate hike in July, which will be the first ECB hike in eleven years.