The European Central Bank (ECB) announced this Thursday that it has decided to raise its three key interest rates by 75 basis points, the second consecutive increase this year.
The interest rate on major refinancing operations was increased from 0.50% to 1.25%, the margin loan rate from 0.75% to 1.50% and the permanent deposit rate from 0% to 0.75%. The increase is effective September 14th.
“This important step involves moving from the highly accommodative level prevailing in key interest rates to levels that will ensure a timely return of inflation to the medium-term target of 2% set by the ECB,” the central bank said in a statement released after the meeting of the Board of Governors.
Author: Lusa
Source: CM Jornal
