The European Central Bank just hit the brakes. After a stretch of monetary easing, the ECB’s Governing Council unanimously voted to raise all three key interest rates by 25 basis points on June 11, marking a decisive pivot toward tighter policy in the eurozone.
The full transcript of the press conference, featuring ECB President Christine Lagarde and Vice-President Boris Vujčić, is now available on the central bank’s website. And while the word “crypto” didn’t appear once in the entire session, the implications for digital assets are hard to ignore.
What the ECB actually said
The rate hike was unanimous. That’s notable because central bank decisions of this magnitude often come with at least one or two dissenters. A clean vote suggests the Governing Council sees the inflationary picture as clear enough to warrant action without hedging.
The numbers back that up. New Eurosystem projections peg headline inflation at an average of 3.0% for 2026 and 2.3% for 2027. Those figures sit uncomfortably above the ECB’s 2% target, and they represent an upward revision that reflects persistent pressures from geopolitical tensions and elevated energy costs.
