2023-09-14 15:38:00
Original title: European Central Bank raises interest rates for tenth consecutive time
Xinhua News Agency, Frankfurt, September 14 (Reporter Shan Weiyi) The European Central Bank held a monetary policy meeting on the 14th and decided to raise all three key interest rates in the euro zone by 25 basis points. This is the tenth consecutive rate hike by the European Central Bank since July last year.
The European Central Bank announced on the same day that it would raise the main refinancing interest rate, marginal lending rate and deposit mechanism interest rate to 4.50%, 4.75% and 4.00% respectively from September 20.
The European Central Bank said that day that it expected inflation rates in the euro area to be 5.6%, 3.2% and 2.1% in 2023, 2024 and 2025 respectively. At the same time, the European Central Bank lowered its economic growth forecast for the euro area in 2023 to 0.7%, while adjusting its growth forecasts for 2024 and 2025 to 1.0% and 1.5% respectively.
Preliminary statistics released by Eurostat on August 31 showed that the euro zone inflation rate in August was 5.3% on an annual basis, the same as in July.
Since the start of the rate hike process in July last year, the European Central Bank has raised interest rates by a total of 450 basis points.
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