According to CoinMeta, ECB Governing Council member Kazakas stated that if inflation does not return to target, the ECB is prepared to raise interest rates, but it is still too early to judge the outcome of the September meeting. Although consumer price increases have been hovering around 3%, the market has bet that the ECB will raise the deposit rate by 0.25%. Kazakas said that a decision on whether to take steps to bring inflation down to 2% will be made after evaluating the data in September.