In order to combat inflation, the European Central Bank decided to increase interest rates by 75 basis points at its meeting on Thursday, which took place today.
The European Central increased the interest rate by 75 basis points, from 1.25 percent to 2 percent yearly, and said he expected further increases to bring inflation to 2%.
The European Central Bank boosted deposit interest rates from 0. 75% to 1. % in accordance with its decision.
The main interest rate on refinancing increased to 2% from 1. 25% to achieve the highest level since 2009 and 5%, which is the highest level since 2008.
“The Board of Directors took a decision today and is expected to increase interest rates to ensure the return of inflation in a timely way to a goal at 2%,” the European Central said in a statement.
From Novosti.
The European Central increases the benchmark interest rate to 2%.
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