The central bank met as scheduled in Frankfurt.
(Photo: dpa)
Frankfurt The European Central Bank (ECB) is raising interest rates in the euro area. The currently decisive interest rate on deposits is to rise by half a percentage point to zero percent. The official key interest rate, which was previously zero, and the interest rate for top refinancing are also expected to rise by the same amount. The central bank announced this on Thursday afternoon.
The rate hike is therefore larger than expected. In recent weeks, the ECB has signaled several times that it intends to raise interest rates by 25 basis points. With today’s decision, the central bank is reacting to the sharp rise in inflation in the euro area. This rose to a record 8.6 percent in June.
From 2:45 p.m., ECB President Christine Lagarde will give a press conference on the new decisions. You can follow them on our homepage in the live blog.
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