If inflation slows, it should stay strong for a long time. To ensure that inflation returns to its target level of 2%, the Governing Council has decided to increase the three key ECB interest rates by 25 basis points, or 0.25 percentage points.
The deposit rate, which is the reference rate, reached 3.50%, its highest level since May 2001. The refinancing rate now stands at 4.0% and the marginal credit facility rate at 4.25%.
The ECB forecasts inflation of 3.0% in the euro zone in 2024 (compared to 2.9% previously) and 2.2% in 2025 (compared to 2.1% previously).
The Governing Council also registered, as planned, the end on July 1 of the reinvestments within the framework of the APP (Asset Purchase Program), which is around 3,200 million euros.
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Source: BFM TV
