ECB rate hike could stop by September
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The most “desirable” for Europe will be the achievement of the maximum rate of the European Central Bank (ECB) by September 2023, François Villeroy de Galo, member of the ECB’s Board of Governors and Chairman of the Bank of France, said. This will allow the pan-European regulator to reach the inflation target of 2% by 2024-2025, he believes.
During the ECB meeting on July 21, the base and deposit rates were raised by 0.5 percentage points for the first time in 11 years and amounted to 0.5 and 0%, respectively. At the subsequent two meetings on September 8 and October 27, rates were increased by 0.75 percentage points and by the end of autumn they were 1.25% – basic and 0.75% – deposit. At the meetings on December 15 and February 2, they were increased by 0.5 percentage points, at the moment they are 3% – basic and 2.5% – deposit.
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