ECB Officials Were Open to a Rate Rise in April: Minutes

2026-05-28 11:52 By Joana Ferreira 1 min. read

A number of ECB members viewed the April decision to keep rates unchanged as a close call and indicated they would have supported a rate hike had it been proposed, according to the latest ECB meeting minutes.

Policymakers warned that the energy-driven supply shock was proving more persistent than previously expected, increasing the risk of broader and more entrenched inflationary pressures, while the war in the Middle East was seen as a key source of uncertainty for both inflation and growth.

Members also acknowledged the increasingly difficult trade-off facing monetary policy, as slowing economic activity and weakening confidence coincided with rising inflation risks.

Several officials noted that even with two projected rate hikes this year, inflation was still expected to remain slightly above the ECB’s target.

Investors expect the ECB to raise its key rates by 25 basis points on June 11, with at least one additional hike priced in by the end of the year.



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ECB Officials Were Open to a Rate Rise in April: Minutes
A number of ECB members viewed the April decision to keep rates unchanged as a close call and indicated they would have supported a rate hike had it been proposed, according to the latest ECB meeting minutes. Policymakers warned that the energy-driven supply shock was proving more persistent than previously expected, increasing the risk of broader and more entrenched inflationary pressures, while the war in the Middle East was seen as a key source of uncertainty for both inflation and growth. Members also acknowledged the increasingly difficult trade-off facing monetary policy, as slowing economic activity and weakening confidence coincided with rising inflation risks. Several officials noted that even with two projected rate hikes this year, inflation was still expected to remain slightly above the ECB’s target. Investors expect the ECB to raise its key rates by 25 basis points on June 11, with at least one additional hike priced in by the end of the year.
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2026-04-30