https://sputnikglobe.com/20230914/ecb-unexpectedly-raises-base-interest-rate-to-record-45-per-annum-1113371065.html
ECB Unexpectedly Raises Base Interest Rate to Record 4.5% Per Annum
ECB Unexpectedly Raises Base Interest Rate to Record 4.5% Per Annum
Sputnik International
The European Central Bank (ECB) announced on Thursday that it had raised the base interest rate by 25 basis points to the record 4.5% per annum.
2023-09-14T13:19+0000
2023-09-14T13:19+0000
2023-09-14T13:19+0000
energy crisis in europe
european union (eu)
the european central bank (ecb)
inflation
monetary policy
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"The Governing Council decided to raise the three key ECB interest rates by 25 basis points. Accordingly, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 4.50%, 4.75% and 4.00% respectively, with effect from 20 September 2023," the regulator said in a statement. The ECB also upgraded its forecast for inflation in 2023 from 5.4% to 5.6% and lowered its forecast for the eurozone GDP growth for 2023 from 0.9% to 0.7%. "They now expect the euro area economy to expand by 0.7% in 2023, 1.0% in 2024 and 1.5% in 2025," the statement read.
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european monetary policy, eurozone, europe inflation, crisis in europe
european monetary policy, eurozone, europe inflation, crisis in europe
ECB Unexpectedly Raises Base Interest Rate to Record 4.5% Per Annum
MOSCOW (Sputnik) - The European Central Bank (ECB) announced on Thursday that it had raised the base interest rate by 25 basis points to the record 4.5% per annum.
"The Governing Council decided to raise the three key ECB interest rates by 25 basis points. Accordingly, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 4.50%, 4.75% and 4.00% respectively, with effect from 20 September 2023," the regulator said in a statement.
The ECB also
upgraded its forecast for inflation in 2023 from 5.4% to 5.6% and lowered its forecast for the eurozone GDP growth for 2023 from 0.9% to 0.7%.
"They now expect the euro area economy to expand by 0.7% in 2023, 1.0% in 2024 and 1.5% in 2025," the statement read.
