ECB officials see communication as toughest challenge in July

The concern highlights how delicately the ECB must tread as it concludes the most forceful bout of monetary tightening the 20-nation euro zone has ever seen

During its yearlong hiking campaign, the ECB has not left financial markets wondering too much about what’s coming next. Picture: Daniel Roland/AFP via Getty Images

European Central Bank officials are anxious to strike the correct tone in describing their intentions after next week’s planned increase in interest rates, according to people familiar with their thinking.

Governing Council members consider communication about what will happen after the July 27 move their biggest challenge, said the people, who asked not to be identified because the discussions are private.