ECB pushes through 50 bps rate hike despite market turmoil

The ECB raised its three policy rates by 50 basis points in its sixth consecutive rate hike and said future moves will depend on incoming data.

"The elevated level of uncertainty reinforces the importance of a data-dependent approach to the Governing Council’s policy rate decisions, which will be determined by its assessment of the inflation outlook," the ECB said. Thursday's decision increases the rate the ECB pays on bank deposits, which is the benchmark for borrowing costs in the euro zone, to 3.0% from 2.5%.

The central bank for the 20 countries that share the euro has been locked in a fight to bring inflation in the currency bloc back to its 2% target, from 8.5% last month. But investors had begun to doubt the ECB's resolve to raise rates again this week as a selloff in the banking sector grew to enmesh Switzerland's

ECB pushes through 50 bps rate hike despite market turmoil PierrePoilievre it's already impossible to make ends meet. Banks raising rates. EU banks are getting hurt. Canada is also being affected. No opportunities for Canadian executive assistants.

Sad for the small banks that rates are rising again. The big banks benefit but they do not help the ones who need it most. Raising rates and its going to hurt competition.

ECB's Functioning Sentiment to Europeans... 'Let them eat cake...'

South European banks gonna crack up

An Answer to CS helping hand?

nice

They will push until they break something

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European Central Bank faces 'unenviable choice' on interest rates due to banking woes | CNN BusinessUntil yesterday, the European Central Bank was widely expected to hike interest rates by half a percentage point Thursday in its fight against inflation. But the market turmoil of the past 24 hours could force a rethink.
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