ECB: Increase interest rates by half a point

The bank's base interest rate (deposits) is now set at 3%

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The European Central Bank (ECB) recently increased interest rates by half a unit.

Thus, the basic interest rate of the bank (deposits) is now set at 3% and that for refinancing operations at 3,5%.

The Governing Council stands ready to adjust all instruments within its mandate to ensure that inflation returns to the 2% target over the medium term and to maintain the smooth functioning of the monetary policy transmission. The ECB's policy toolbox is fully equipped to provide liquidity support to the euro area financial system if needed. ECB President Christine Lagarde will comment on the reasons behind these decisions at a press conference starting shortly.

Source: ΑΠΕ ΜΠΕ