European Central Bank chief signals possible July rate hike

FRANKFURT, Germany (AP) — The president of the European Central Bank has given the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation. In a blog post on the Frankfurt, Germany-based bank’s website, President Christine Lagarde said Monday that she expects asset purchases that buoy the economy would end “very early in the third quarter.” That “would allow us a rate lift-off at our meeting in July.” The central bank for the 19 countries that use the euro currency has trailed others like the U.S. Federal Reserve and Bank of England in interest rate hikes meant to combat inflation.