European Central Bank continues to raise Interest Rates
On December 15, the European Central Bank (ECB) raised interest rates for the fourth time in a row, but this increase was lower than the previous two times, and is expected to continue to increase.
The ECB's announcement said the basic interest rate in the euro area was raised by 0.5 percentage point to 2.5% - which completely opposite to a decade of ultra-easy monetary policy.
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After 6 years of applying the zero interest rate policy, the ECB initiated a change in interest rate policy. In the context of high energy prices and double-digit inflation, the ECB first raised its key interest rate to 0.5% on July 27. In the next steps to increase interest rates, interest rates were adjusted to 1.25% on September 14 and to 2% on November 2. The latest increase comes as inflation in Europe remains high, reaching 10% in November, while in the US, the rate has dropped to 7.1%.
European Central Bank continues to raise Interest Rates
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