Christine Lagarde

Stories

Eurozone growth beats forecasts, clearing the ECB's path to another rate hike

Weighing a September rate hike

The European Central Bank spent early 2026 cutting interest rates. An oil shock, and now a surprise growth spurt, have flipped its direction toward another hike.

Updated Jul 31

ECB raises rates for the first time since 2023

Rule Changes

Leading the ECB's turn from cutting to hiking

The European Central Bank cut interest rates for two years. On Thursday it reversed, raising its key deposit rate to 2.25% from 2.0%. It is the first hike since September 2023.

Updated Jun 11

Bulgaria adopts the euro after 19-year wait

Rule Changes

Welcomed Bulgaria as 21st eurozone member; presided over ECB expansion

Bulgaria became the 21st eurozone member on January 1, 2026, replacing the lev at a fixed rate of 1.95583 per euro. Euro banknotes and coins began circulating at midnight, ending nearly three decades under a currency board.

Updated May 19

Notable Quotes

Inflation is expected to stay well above target until the first half of 2027. (July 23 press conference)

from Eurozone growth beats forecasts, clearing the ECB's path to another rate hike · Updated Jul 31

"The increase in energy prices will keep inflation well above two percent in the near term," Lagarde said in April.

from ECB raises rates for the first time since 2023 · Updated Jun 11

The Governor of the Bulgarian National Bank will sit on the ECB's Governing Council, with the same say, the same vote and the same responsibility as every other member. The gains from euro adoption are substantial and translate into smoother trade, lower financing costs, and more stable prices.

from Bulgaria adopts the euro after 19-year wait · Updated May 19

With the arrival of 2026, we proudly welcome Bulgaria into the euro family. This is a historic moment that will strengthen trade, travel and financial stability across Europe. The euro is a powerful symbol of what Europe can achieve when we work together, and of the shared values and collective strength that we can leverage to confront the global geopolitical uncertainty that we face.

from Bulgaria adopts the euro after 19-year wait · Updated May 19