ECB Expected to Hike Rates by 25 Basis Points on September 10

A Reuters poll of 65 economists has predicted that the European Central Bank (ECB) will raise its deposit rate by 25 basis points to 2.50% on September 10.

The overwhelming majority, 90%, of those surveyed expect the rate to remain at 2.5% by year-end.

According to ECB FAQs, the bank's primary mandate is to maintain price stability, keeping inflation around 2%. Its main tool for achieving this is raising or lowering interest rates, which can impact the Euro's value.