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ECB raises key interest rate by 0.50 percentage points

The European Central Bank raises the main interest rate for the eurozone again by 0.50 percentage points to 3.50 percent.

By Finst News
• 2 min read
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ECB raises key interest rate by 0.50 percentage points

The European Central Bank raises the main interest rate for the eurozone again by 0.50 percentage points to 3.50 percent. This was announced by the central bank in its latest press release.

The European monetary watchdogs thus maintain their conservative stance and continue their policy of monetary tightening. By adjusting the rate again, the ECB continues to counteract the persistently high inflation in the euro area.

Thanks to the revised February projections, consumer prices rose again by 0.3 percent month-over-month to a total of 8.5 percent. Inflation in Europe again diverged from the ECB’s target of 2.0 percent.

At 14:45 CET, ECB President Christine Lagarde held a press conference to answer journalists’ questions about Europe’s future monetary policy path. Ms. Lagarde faced tough questions about the current situation in the European banking sector after the bank failures in the U.S. The press conference was streamed live on YouTube.

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