ECB raises base rate to 3.75%
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The Board of Governors of the European Central Bank (ECB) has decided to raise the base interest rate by 25 basis points. up to 3.75%. About it reported on the regulator’s website.
It is specified that at 25 b. also increased rates on deposits and on margin loans of the ECB, up to 4% and up to 3.25% respectively. Rates will be increased from May 10.
This is the seventh consecutive increase in the base rate and the highest level since 2008. The previous meeting of the ECB Governing Council took place March 16, then it was decided to increase the rate by 50 bp. In February and December 2022, the ECB also raised rates by 50 bp. p., and in November and October – immediately by 75 b.p. P.
On May 2, it became known that, following the results of April, inflation in the eurozone accelerated up 7% after 6.9% in March. In February, this figure was 8.5%, and in January – 8.6%. Prices rose the most in Latvia (15%), Slovakia (14%) and Lithuania (13.3%). The lowest inflation rates were recorded in Luxembourg (2.7%), Belgium (3.3%) and Spain (3.8%).
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