1251 GMT - As one of the first movers earlier this year to hike interest rates amid inflation pressures, the European Central Bank's meeting reinforces the same instinct: to stay in front of the risk, not behind it, J.P. Morgan Private Bank's Madison Faller says in a note. The ECB said the full inflationary impact of the energy shock has yet to play out. "That keeps September as a live meeting, with the bar to hold edging higher," the global investment strategist says. On Thursday, the ECB left policy rates on hold, having raised interest rates at the June meeting. Energy and inflation pressures are clearly back in focus, she says. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

July 23, 2026 08:51 ET (12:51 GMT)

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