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European stock markets closed with decline

European stock markets closed the day with a decline due to the statements of the European Central Bank (ECB) that the steps to increase interest rates will continue.

At the closing, the benchmark index Stoxx Europe 600 lost 2.85 percent to 429.91 points.

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In Germany, the DAX 30 index decreased by 3.28 percent to 13,986.23 points, in France the CAC 40 index decreased by 3.09 percent to 6,522.77 points, and in Italy, the FTSE MIB 30 index decreased by 3.45 percent to 23,726.05 points. .

In the UK, the FTSE 100 index decreased by 0.93 percent to 7,426.17 points.

Euro/dollar parity is at 1.061 level with a decrease of 0.656 percent as of 20.22 TSI.

In the statement made by the ECB today, it was stated that the Bank increased its three main policy rates by 50 basis points.

 

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In the statement, it was noted that the refinancing rate was increased to 2.50 percent, the deposit rate to 2 percent and the marginal funding rate to 2.75%. Thus, the ECB’s interest rates rose to the highest level since 2008.

ECB President Christine Lagarde, at the press conference held after the interest rate hike decision, said, “Today we decided to raise interest rates. “We expect to raise interest rates significantly further, as inflation is still very high and is expected to remain high (in the future),” he said.

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