The ECB has hiked its main policy interest rate by 25bp. The deposit interest rate is now at 3.75%. What is more interesting, though, is that the accompanying policy statement kept the door for further rate hikes open and did not strike a more cautious tone. The ECB also announced that the remuneration of minimum reserves will be reduced to zero. During the subsequent press conference, however, ECB President Christine Lagarde was adamant not to pre-announce anything for September, leaving the door not only open for a rate hike but also for a pause. Hike, pause or stop? It's all possible in September After the June ... (full story)