75 basis point rate hike from ECB

The ECB raised three key policy rates by 75 basis points to their highest level since 2009.

The European Central Bank (ECB) increased interest rates by 75 basis points, as expected by the markets. Thus, the interest rate reached the highest level in the last 13 years.


According to the statement made by the ECB, the refinancing operation interest rate was increased from 1.25% to 2.00%. The interest rate was last seen at this level on January 21, 2009.

The ECB increased the interest rate paid on deposits held by banks at the central bank from 0.75 percent to 1.50 percent, and the marginal interest rate from 1.50 percent to 2.25%.

In the ECB statement, it was stated that inflation continues to be very high and will remain above the target for a long time.

“The Board of Directors is ready to adjust all its tools to ensure price stability within the framework of the mandate,” the statement said.



The press conference of ECB President Christine Lagarde will start at 15:45 TSI.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button