European Central Bank hikes rates to record level as inflation risks outweigh economic gloom
- The European Central Bank has raised interest rates to a record high of 4%, the 10th consecutive increase, due to concerns about persistently high inflation.
- Despite the rate hike, the ECB indicated that it may be the last for now, as they believe the current rates will contribute to a timely return of inflation to their target of 2%.
- The ECB expects inflation in the eurozone to decrease to around 2.9% next year and 2.2% in 2025.
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The ECB raises rates by a quarter of a point, to 4.50%. Lagarde: 'Rises over? We depend on the data. '
The deposit rate at 4%, the rate on marginal loans at 4.75%. The Board of Directors: 'The rates are now at a level that ensures the objective if maintained long enough' (ANSA)
·Italy
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Total News Sources107
Leaning Left23Leaning Right17Center29Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 33%
C 42%
R 25%
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