ECB head Lagarde 'essentially announces interest rate hikes in July and September' 

European Central Bank president Christine Lagarde has taken 'the unusual step' of announcing rate hikes in advance

ECB president Christine Lagarde: Comments suggest two rate increases of 25 basis points each in July and September.

The ECB is likely to start raising interest rates in July and exit sub-zero territory by the end of September, president Christine Lagarde said. 

With inflation running at almost four times the ECB’s 2% target, momentum in the central bank’s governing council has been building to raise the deposit rate from its current level of -0.5% in July.