Emirates News Agency – The European Central Bank raises interest rates by 25 basis points

2023-05-04 14:44:56

Thursday, May 4, 2023 – 6:42 PM

BRUSSELS, May 4 / WAM / The European Central Bank raised interest rates by 25 basis points (or 0.25 percentage point) to 3.25% today, Thursday.

In a statement, the bank declared that inflation expectations remain too high for a very long time and that “in light of persistent high inflationary pressures, the Governing Council has decided to raise the three main interest rates of the European Central Bank by 25 basis points.

He explained that the headline inflation in recent months has risen, but the underlying price pressures remain strong.. At the same time, previous interest rate increases are strongly transmitted to financing and monetary conditions in the euro area, while the delay and the strength of the transmission to the real economy is still uncertain.

Asim Al-Khouli

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