Week of 8 - 12 June 2026 | ECB raises rates after almost three years

In this edition of Amundi's Weekly Market Directions: 

• The ECB raised rates in June in an attempt to curb inflation, in line with our expectations.
• The data currently available are insufficient to assess the magnitude or persistence of the shock stemming from the Middle East conflict.
• The central bank did not provide clear forward rate guidance and will remain data-dependent before taking any further action.

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Monica Defend

Monica Defend

Head of Amundi Investment Institute

Although the ECB raised rates amid concerns that inflation will remain above target in the near term, we do not expect it to embark on a full tightening cycle. Nonetheless, the ECB would remain highly attentive to energy prices, and pressures on domestic demand.

Monica Defend, Head of Amundi Investment Institute

Read the full weekly market directions

Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 15 June 2026. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.
 

Date of first use: 15 June 2026

Doc ID: 5575852