ECB Base Interest Rate Rises by 0.25%p... 10 Consecutive Times

The European Central Bank (ECB) raised key policy rates, including the benchmark interest rate, by 0.25 percentage points on the 14th (local time).

At the monetary policy meeting on the day, the ECB announced that the benchmark interest rate was raised by 0.25 percentage points to 4.5% per annum, while the deposit rate and marginal lending rate were each raised by 0.25 percentage points to 4.0% and 4.75% per annum, respectively.

The deposit rate is the highest since the launch of the euro in 1999.

[Image source=AFP Yonhap News]

The ECB has raised rates 10 consecutive times since July last year.

While the financial market had expected rates to be held steady this time, the mood changed rapidly two days ago when major foreign media reported that the ECB would announce next year's inflation forecast to be above the target (2%), at over 3%.

This content was produced with the assistance of AI translation services.