The European Central Bank confirmed, this Thursday, that interest rates will increase 50 basis points, despite the turbulence in the banking sector.
The institution justified the decision with its determination to ensure “a timely return of inflation to the 2% target in the medium term.”
The main refinancing interest rate becomes 3.50%, the rate applicable to the marginal credit facility becomes 3.75% and the interest rate applicable to deposits rises to 3%.
“The Governing Council is closely monitoring current market tensions and stands ready to respond as necessary to preserve price stability and financial stability in the euro area,” the central bank said.
in update
Source: TSF
