Toughness approval // ECB will continue to raise rates and reduce the amount of assets on the balance sheet
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The European Central Bank (ECB) at the May meeting for the seventh time in a row announced the increase in rates. They were again increased by 0.25 percentage points (pp): for loans up to 3.75%, for deposits – up to 3.25%, for margin loans – up to 4%. The regulator also plans to stop reinvesting proceeds from redeemable bonds under the asset buyback program in July this year, which will further tighten the regulator’s policy. At the same time, the bank is ready to continue raising rates due to the risks of accelerating inflation – market participants expect this to happen at least at two more ECB meetings.
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