European Central Bank surprises markets with larger-than-expected rate hike, its first in 11 years

Posted on AllSides July 21st, 2022
From The Center
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The European Central Bank on Thursday increased interest rates for the first time in 11 years in an attempt to cool rampant inflation in the euro zone.

The ECB, the central bank of the 19 nations that share the euro currency, surprised markets by pushing its benchmark rate up by 50 basis points, bringing its deposit rate to zero. Traders had expected a smaller hike of 25 basis points.

“The Governing Council judged that it is appropriate to take a larger first step on its policy rate normalisation path than signalled at its previous...

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https://www.cnbc.com/2022/07/21/european-central-bank-raises-rates-by-50-basis-points-its-first-hike-in-11-years.html

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