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ECB hikes rates by 75 basis points and announces new terms for European banks

Summary by Ground News
The European Central Bank announced another massive interest rate increase on Thursday. The move risks further crushing the euro-area economy, which is already feared to be on the brink of a recession. Inflation in the eurozone hit 9.9% in September compared to a year ago, driven by higher energy costs.
Published 3 months ago · Frankfurt, Germany

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ECB hikes rates by 75 basis points to 1.5%, highest since 2009

The central bank for the 19 countries that use the euro raised its deposit rate by a further 75 basis points to 1.5% - the highest rate since 2009. Until as recently as July, ECB rates had been in negative territory for eight years.

3 months ago·Mumbai, India
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ECB raises interest rates again, cuts bank subsidies

The European Central Bank raised interest rates again on Thursday and put the reduction of its bloated balance sheet on the agenda, but said "substantial" progress had already been made in its bid to fight off a historic surge in inflation.

3 months ago·United Kingdom
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Shell profits more than double to $9.5bn; European Central Bank to hike interest rates – business live

Greenpeace calls for ‘proper tax’ on energy firms’ profits as oil and gas giant beats expectations and makes $30bn profits in first nine months of the year

3 months ago·London, United Kingdom
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ECB hikes interest rates again in bid to curb inflation

Europe's central bank increased rates on Thursday at the fastest pace in the euro currency's history and raised questions about how far the bank intends to go to curb inflation.

3 months ago·United Kingdom
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European Central Bank makes another large interest rate hike

The European Central Bank has made another outsized interest rate hike aimed at squelching out-of-control inflation

3 months ago·United States
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European Central Bank tipped to follow US lead with fresh interest rate hike

The European Central Bank is set to follow the lead of the US Federal Reserve in making its second big interest rate increase in a row on Thursday, underlining its determination to stamp out the record inflation that threatens to sink the 19-country euro area into recession.

3 months ago·Ireland
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