Commerzbank CFO: European Central Bank Hits Pause on Rate Changes

The chief financial officer of Commerzbank, Bettina Orlopp, believes that the European Central Bank (ECB) has likely paused its rate hiking cycle and is unlikely to raise rates in September. This contradicts the expectations of several analysts who anticipate a final rate hike next month. Commerzbank, the second largest lender in Germany, reported a 20% increase in net profit and higher-than-expected revenue in the second quarter. Orlopp stated that if there were to be another interest rate hike, it would be an upside potential for the bank. The ECB's decision in September will depend on data, but some experts believe that the peak in rates is approaching.