The ECB raises its rates by half a point to 3% on February 2, 2023

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So they will be at 3%. In addition, “it plans to raise interest rates by another 50 basis points at the next monetary policy meeting in March,” and then raise interest rates to 3.50%.

Euskaraz irakurri: Interest rate point of this point of Europako Banku Zentralak, the best horrenbest of this kind of martxoan

The board of directors of the European Central Bank (ECB) has decided increase interest by 50 basis points, so the interest rate for its refinancing operations will be at 3%while the deposit rate will reach 2.50% and the loan facility rate will reach 3.25%.

Likewise, it has put forward that given the pressure on the Underlying inflationintends to raise interest rates by another 50 basis points at the next monetary policy meeting in March“, then increasing the reference rate at 3.50%and will then assess the future course of its monetary policy.

With this fifth consecutive increase in the money price, which reached its highest level at the end of 2008, the ECB does not seem to indicate that it is easing its normalization of monetary policy, after an increase of another 50 basis points in December and the two increases of 75 basis points performed at the October and September meetings, following an initial increase of half a percentage point in July 2022.

The ECB’s decision comes a day after learning that year-on-year inflation in the euro area declined for a third consecutive month in January to 8.5%, seven-tenths below 9.2% in December and at the lowest level since May 2022, before the central bank started raising rates.

Similarly, the US Federal Reserve’s (Fed) Federal Open Market Committee (FOMC) decided yesterday to raise interest rates by 25 basis points until they are placed in a target range between 4.50% and 4.75%.

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Source: EITB

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