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ECB raises interest rates to highest level since euro launched (1999)
The European Central Bank has raised interest rates to the highest level since the launch of the euro to tackle stubbornly high inflation, despite fears over a slowdown across the single currency bloc.
It marks the 10th consecutive rate rise for the bank, as the ECB warned inflation remained too high even as the impact of previous increases and a weakening outlook for global trade weigh on the eurozone economy.
The latest increase pushes the ECB’s deposit rate, which is paid on commercial bank deposits, from 3.75% to 4% – the highest since the euro was launched in 1999. Its main refinancing operations, which provide the bulk of liquidity to the banking system, was increased from 4.25% to 4.5%.
...
European stock markets rose on Thursday on hopes that rate hikes were coming to an end. The FTSE 100 had its best day of 2023, gaining almost 2%.
https://www.theguardian.com/business/2023/sep/14/ecb-raises-interest-rates-inflation
It marks the 10th consecutive rate rise for the bank, as the ECB warned inflation remained too high even as the impact of previous increases and a weakening outlook for global trade weigh on the eurozone economy.
The latest increase pushes the ECB’s deposit rate, which is paid on commercial bank deposits, from 3.75% to 4% – the highest since the euro was launched in 1999. Its main refinancing operations, which provide the bulk of liquidity to the banking system, was increased from 4.25% to 4.5%.
...
European stock markets rose on Thursday on hopes that rate hikes were coming to an end. The FTSE 100 had its best day of 2023, gaining almost 2%.
https://www.theguardian.com/business/2023/sep/14/ecb-raises-interest-rates-inflation
