HomeEconomyThe European Central Bank...

The European Central Bank is raising rates to fight inflation

Due to high inflation, the European regulator raised key rates by 25 basis points.

The European Central Bank on Thursday, May 4, raised three key interest rates by 25 basis points. This was reported by the press service of the ECB.

function news4514688() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4514688&lang=1&IsAjax=true’, function (data) { $(‘#nk4514688’).html(data); });
}

news4514688();

From May 10, the interest rate on the main refinancing operations and interest rates on the marginal lending line and the deposit line will increase to 3.75%, 4.00% and 3.25%, respectively.

The regulator believes that inflation in the euro area will be too high in the long term, and intends to make further decisions based on incoming data and inflation estimates.

The ECB emphasized that these decisions will keep rates at a sufficiently restrictive level to bring inflation back to the target level of 2%.

“A key indicator of inflation has been declining in recent months, but underlying price pressures remain strong. Recent rate hikes have had a significant impact on monetary and financing conditions in the eurozone, while the pace and extent of the impact on the real economy remains uncertain,” he added. central bank.

The ECB also plans to stop reinvesting proceeds from redeemable bonds under the asset buyback program in July this year. Until the end of June, the central bank will reduce the amount of assets on its balance sheet by 15 billion euros per month.

It can be recalled that annual inflation in the 20 eurozone countries slowed to 6.9 percent in March.

news Correspondent.net on Telegram. Subscribe to our channel Athletistic

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...

In Pryluky, RF Postal House -Topl in the leader of the leader

In Pryluky, a hostile drone hit the house of the head of the local fire department. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } His family was killed: his wife,...

Russians were pushed to Constant and could be shot by a garden from artillery

The Russians have advanced towards Konstantinovka and are already shooting from artillery Ukrainian positions near the city. This is indicated in the report of the Institute of Military Research (ISW). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...