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Financial Times — World — ECB Interest Rate — Eurozone Inflation — Global Economy — European Banks

ECB increases rates by 0.5 percentage points

European Central Bank raises interest rates by 0.5 percentage points to 3% to combat inflation. Rate-setters remove commitment to steady pace of interest rate rises in the future.

1 min read
  • European Central Bank raises interest rates by 0.5 percentage points to 3% to combat inflation.
  • Rate-setters remove commitment to steady pace of interest rate rises in the future.
  • Some members of the governing council wanted to stop raising rates due to financial turmoil.
  • ECB cuts inflation forecasts but says price pressures remain too high for too long.
  • ECB promises to take a data-dependent approach to future decisions and monitor market tensions closely.
ECB increases rates by 0.5 percentage points
Eurozone’s rate-setters lift benchmark rate to 3%, but remove reference to further rises in borrowing costs
Financial TimesMartin Arnold

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