The ECB acts in the face of “inflation outlook” that has remained “too high for too long”. In a press release issued on Thursday, the Governing Council decided to “raise the three main ECB interest rates by 25 basis points”, but at a slower pace than previously. A decision taken in order to fight against the rise in prices, persistent, which undermines the purchasing power of households and the activity of the euro zone.
ECB interest rates are now in a range between 3.25 and 4%, the highest since October 2008, after having already undergone six consecutive increases between 0.50 and 0.75 points since July.
“Future decisions by the Governing Council will ensure that policy rates are reduced to levels restrictive enough to allow inflation to return quickly to the medium-term target of 2% and will be maintained at these levels for as long as necessary” , specifies the press release of the European Central Bank.
More information to come.
