BUSINESS European central bank hikes key rates by 50 basis points

BUSINESS

European central bank hikes key rates by 50 basis points

CGTN

10:09, December 16, 2022

The European Central Bank in Frankfurt, Germany, October 31, 2022. (Photo: CFP)

The European Central Bank (ECB) raised the three key ECB interest rates by 50 basis points on Thursday to bring down the inflation in the eurozone, according to a statement.

This is the fourth ECB rate hike since July.

Accordingly, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 2.50 percent, 2.75 percent and 2.00 percent, respectively.

The bank expects to raise the rates further because "inflation remains far too high and is projected to stay above the target for too long."

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue