Economic Buzz: ECB Raises Rates By 75 Basis Points, Expects Further Hikes

9 Sep 2022 , 09:38 AM

The European Central Bank raised its interest rates by a massive 75 basis points, the biggest hike ever in the single currency blocs history. The Governing Council, led by Lagarde, raised the main refinancing rate to 1.25 percent, the deposit facility rate to 0.75 percent and the marginal lending rate to 1.50 percent.Based on our current assessment, over the next several meetings we expect to raise interest rates further to dampen demand and guard against the risk of a persistent upward shift in inflation expectations, Lagarde said during the post-decision press conference.Powered by Commodity Insights