The European Central Bank raised interest rates by 50 basis points, confirming analysts’ expectations. It was the second consecutive increase of 50 basis points, bringing the deposit rate to 2.5% and the refinancing rate to 3%, despite the fact that inflation in the euro area has decreased and the Federal Reserve has reduced its pace of raising its own rate to 25 basis points. , last night.
In fact, the statement released by the European Central Bank takes the unusual step of announcing a further 50 bps increase at its next meeting in March and adding that the ECB will then revise its monetary policy.
The ECB has pledged to “continue to raise interest rates significantly and sustainably” after four rate hikes in 2022, bringing the value of money out of negative territory for the first time since 2014.
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Source: Kathimerini
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