The European Central Bank (ECB) decided to hike three of its key interest rates by 50 basis points (0.5%) as part of its ongoing war against inflation. The organization stated that further increases are likely to happen “because inflation remains far too high and is projected to stay above the target for too long.” ECB Follows Federal Reserve, Hiking Interest Rates by 50 Basis Points The European Central Bank (ECB) has explained its economic policy in its war against inflation. The governing council of the body decided to hike the interest rates on its main refinancing operations, its marginal lending facility, and its deposit facility by 50 basis points (bps) across the board. In a press release , the organization explained that this rise is part of a plan to ensure a “timely return” to the 2% levels of inflation formerly faced by the bloc. This hike is similar to the one applied by the U.S. Federal Reserve on Dec 14, when it also hiked its interest rates by 50bps. Inflation lev...
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