ECB to keep deposit rate at 2.25% in July
The European Central Bank is expected to leave its deposit rate unchanged at 2.25% in July, following a 25bps increase in June.
Weaker Euro area growth and easing inflation have led to a data-dependent approach.
The ECB’s decision is likely to have limited near-term impact on EUR/USD.
A September hike remains a possibility, with the ECB taking a measured approach.