European Central Bank President Christine Lagarde confirmed on Thursday that asset purchases would end in the third quarter, but avoided saying exactly when the bank would raise interest rates, as the economic outlook remains clouded with high uncertainty stemming from the war in Ukraine and runaway inflation.
Earlier on Thursday, the ECB confirmed that it will end net asset purchases under our asset purchase programme (APP) in the third quarter, but did not give an exact date, citing incoming data since the March policy session. "Looking ahead, our monetary policy will depend on the incoming data and our evolving assessment of the outlook," Lagarde said in her introductory statement to the post-decision press conference, which this time was a live virtual session from her home as she is recovering from a Covid-19 infection. "In the current conditions of high uncertainty, we will maintain optionality, gradualism and flexibility in the conduct of monetary policy."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.