Eurozone interest rates will rise again. The European Central Bank (ECB) decided this Thursday to raise rates again by 75 basis points – the second in a row by that amount and the third since July – to stem the escalation of inflation.
Starting November 2, the interest rate on major refinancing operations will increase to 2%, the margin loan rate will increase to 2.25%, and on deposits to 1.5%.
“With this third consecutive significant increase in key rates, the Board of Governors has made significant progress in eliminating compromises in monetary policy,” Christine Lagarde’s monetary authority justified in a statement following the meeting.
This decision was already expected by the market, given that inflation has continued to rise since the last meeting of the ECB Council, reaching 9.9% in September compared to the same period last year. Already The Purchasing Managers’ Index (PMI) for manufacturing and services fell in August.
Author: SATURDAY
Source: CM Jornal
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