
Will the ECB raise interest rates again in 2026?
As inflation remains stubbornly high in the eurozone, the question of another ECB rate hike is resurfacing. We break down the signals.
Inflation remains the #1 topic for your purchasing power and savings. Here we decode the latest INSEE figures, ECB decisions, and most importantly how to protect your savings. No fluff, concrete numbers.
INSEE publishes inflation (Consumer Price Index, CPI) at 2 dates:
Core inflation (excluding energy and food) is monitored by the ECB to decide rate policy. Official target: 2%. Each release can move EUR/USD 30 to 80 pips.
If inflation is 3% and your Livret A is 3%: your savings don't lose but don't gain either. If inflation is 4.5% and your account is 3%: you lose 1.5% purchasing power per year, i.e. €1,500 on €100,000 of savings.
Investments that protect against inflation: • Inflation-linked bonds (TIPS, OATi) • Physical gold and gold ETFs • Defensive sector stocks (healthcare, basic consumer goods) • Real estate (but has its own cycle)
Those that suffer: • Livret A / LDDS if inflation > rate • Euro-denominated life insurance funds • Classic fixed-rate bonds
The ECB adjusts its policy rates to steer inflation. Mechanism:
Problem: the effect takes 6 to 18 months. And sometimes inflation comes from out-of-control factors (energy, war, supply chain) that rates don't fix.
ECB meetings every 6 weeks. Christine Lagarde and Executive Board statements can move markets.

As inflation remains stubbornly high in the eurozone, the question of another ECB rate hike is resurfacing. We break down the signals.

The euro-dollar exchange rate has fallen back to 1.1437 after giving up its NFP gains. The market is holding its breath ahead of this week's U.S. inflation report.

The Fed's new chair warns: zero tolerance for inflation above 2%. A clear signal to the markets, which had been anticipating easing.

UBS expects the Fed to hold rates steady despite market expectations of a rate hike. Kevin Warsh downplays the inflation risk, but traders remain hesitant.

Inflation in the eurozone is slowing more than expected. The European Central Bank may adopt a more cautious stance in the coming months.

Christopher Kent, deputy governor of the RBA, warns that the Australian central bank could take a tougher stance on inflation. A major turning point for the AUD.

The ECB survey shows that eurozone consumers now expect lower inflation in 2027. This marks a major psychological turning point for the euro and interest rates.

Inflation in Tokyo rose in June, driven by energy prices. This acceleration is fueling renewed speculation about monetary tightening by the Bank of Japan.

The cancellation of U.S.-Iran negotiations is driving up crude oil prices. European bond yields are rising as a result.

Official figures for May show that inflation in Japan is under control, but energy subsidies mask very real underlying pressure.

The New York-based bank is revising its strategy in response to the Federal Reserve's tightening. The markets will have to wait until the fall of 2026 to see rates fall.

Gediminas Simkus, a member of the ECB’s Governing Council, announced that at least one more rate hike is on the way. Monetary tightening continues.

Japan's core inflation is expected to remain below 2% for the fourth consecutive month in May 2026. The Bank of Japan sees its target slipping further out of reach.

U.S. inflation has surpassed the 4% mark, and analysts predict increasing pressure on Bitcoin and gold. Nervous markets are anticipating a response from the Fed.

The Reserve Bank of New Zealand is continuing its fight against inflation despite a worrying rise in unemployment. It’s an increasingly delicate balance.

The Bank of England's latest survey shows that British businesses expect prices to rise at a much slower pace than in April. This is an important signal for future monetary policy.

Hostilities are escalating in Iran. Oil prices are rising as negotiations stall and military tensions reach a new peak.

Citigroup maintains its forecast that the Reserve Bank of Australia will raise rates by 25 basis points in August. Such a move could shake things up for the AUD.

A member of the ECB Governing Council is calling for swift action against inflation. The message comes as the EUR/USD exchange rate remains stable at 1.1658.

Tokyo's inflation rate in May came in below expectations. The Bank of Japan may reconsider its plan to raise interest rates in June.