European Central Bank raises rates by 75 basis points to tackle soaring inflation

Summary by Ground News

ECB raises interest rates by a record 75 basis points. New forecasts show inflation will remain above 2-percent target for years to come. New interest rates will be effective as of 14 September 2022. Analysts said it was a close call whether the Governing Council would hike by 50 basis points or 75.

Published 5 months ago · Frankfurt, Germany

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Times of India

ECB raises rates by 75 basis points to tackle soaring inflation

The banks 25-member governing council raised its key benchmarks by an unprecedented three-quarters of a percentage point for the 19 countries that use the euro currency. The ECB usually moves rates by a quarter-point and had never raised its key bank lending rate by three-quarters of a point since the euros launch in 1999.

5 months ago·Mumbai, India

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Reuters

ECB raises rates by unprecedented 75 basis points

The European Central Bank raised interest rates by an unprecedented 75 basis points on Thursday to tame runaway inflation, even as a recession is now increasingly likely as the bloc has lost access to vital Russian natural gas.

5 months ago·United Kingdom

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The Guardian

ECB raises interest rates across eurozone by record margin

European Central Bank sets aside recession fears to increase rates by 0.75 of a percentage point to 1.25%

5 months ago·London, United Kingdom

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CTV News

European Central Bank makes largest-ever interest rate hike

The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out record inflation that is squeezing consumers and pushing Europe toward recession.

5 months ago·Toronto, Canada

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The Hindu

European Central Bank raises interest rates by unprecedented 75 basis points

The ECB lifted its deposit rate to 0.75% from zero and raised the main refinancing rate to 1.25%, their highest level since 2011, as inflation was at risk of getting entrenched.

5 months ago·India

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