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ECB likely to get out of negative rates by September, Lagarde says

FRANKFURT (Reuters) -The European Central Bank is likely to lift its deposit rate out of negative territory by the end of September and could raise it further if it sees inflation stabilising at 2%, ECB President Christine Lagarde said on Monday. “Based on the current outlook, we are likely to be in a position to exit negative interest rates by the end of the third quarter,” Lagarde said in a blog post published on the ECB’s website. The ECB’s deposit rate is currently -0.5%, meaning banks are charged to park cash at the central bank, and has been below zero since 2014 as the central bank fought too low inflation.

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