18 minutes agoFor the first time in 11 years, European Central Bank raises interest rates
Periskopi(4 years ago)
(4 years ago)The European Central Bank has increased interest rates for the first time in more than 11 years, with the aim of controlling the eurozone's rising inflation. The ECB increased the basic interest rate by 0.5 percentage points to 0.0% on Thursday and plans still growth this year. The rate has been negative since [...]
The European Central Bank has increased interest rates for the first time in more than 11 years, with the aim of controlling the eurozone's rising inflation.
The ECB increased the basic interest rate by 0.5 percentage points to 0.0% on Thursday and plans still growth this year.
The rate has been negative since 2014 to encourage banks to lend instead of depositing money in the bank.
Consumer prices rose at a record 8.6% rate in 12 months by June.
And this increase is far above the bank's target of 2%.
We rooted interest rates by 0.5%.
See our greatest monetary policy concessions https://t.co/7arxAFKnmc Pic.twitter. com/ m CIN0YAM
) European Central Bank (@ecb) Yuly 21, 2022
