The Euro Stock 50, which includes the European companies with the largest capitalization, also fell, 0.52%.
The markets thus respond to the ECB’s decision to raise interest rates by three-quarters of a percentage point, to 1.25%, the highest rise in history, to curb inflation in the euro area, which shot up in August to 9.1%.
The President of the European Central Bank (ECB), Christine Lagarde, said that the Governing Council unanimously decided to raise interest rates in the euro area by three quarters of a point because inflation “It is very high and it will continue to be very high.”
Likewise, the ECB has revised upwards its inflation forecast in the eurozone for this year to 8.1%, 1.3 points above the previous one; as well as those of 2023, up to 5.5% (two points more), and 2024, up to 2.3% (two tenths more).
The banks are the stars of the greatest increases, led by Bankinter gaining 4%, Caixabank 3.47% and Banco Sabadell 3.36%. With lower increases are BBVA, 0.49%; and Santander, with 0.10%.
Source: Ambito
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