This Thursday, the European Central Bank (ECB) increased interest rates by 25 basis points, which means a slowdown in the pace compared to previous increases.
In the statement issued after its monetary policy meeting, the ECB states that “inflation continues to be quite high”, despite having fallen in recent months.
The interest rate on main financing operations rose to 3.75%, the deposit facility rate rose to 3.25% and the interest rate applicable to the marginal credit facility rose to 4%, the highest level since October 2008.
The ECB started raising interest rates in July of last year, having previously approved several increases of 50 and 75 basis points.
In the statement, the institution did not give any clear indication about the continuation of the cycle of interest rate increases.
Future ECB decisions “will ensure that interest rates remain at sufficiently restrictive levels to allow inflation to return quickly to the 2% medium-term target,” the text indicates.
*News updated at 13:52
Source: TSF
