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The European Central Bank will raise interest rates for the first time in July in an attempt to stem the inflation spiral. The head of the Frankfurt-based institution warned that further increases would follow depending on the evolution of prices.
Eleven years since the European Central Bank has not raised key interest rates. The last time was in April 2011. Jean-Claude Trichet, who then headed the foundation, raised it by 25 basis points to 1.25%. The inflation rate reached 2.8%, which was considered at the time peak… The sovereign debt crisis began, which threatened Portugal and Greece in particular. This followed eleven years of “accommodation”, said to be unconventional, implemented by Mario Draghi, who took over as European Central Bank president in November 2011 with the intent of saving the eurozone by all means. Eleven years marked by negative rates and bond repurchases (for 5,000 billion euros since 2015).
This is the page Christine Lagarde popped up on Thursday. After the board meeting held in Amsterdam, the ECB president confirmed that net asset purchases will end on July 1. On top of that, the ECB’s key interest rates will be raised by 25 basis points at their next meeting, on July 21. Before “Another increase in September”, maybe bigger “Whether medium-term inflation expectations persist or deteriorate”. then “series” Additional Increases “Over the next few months based on medium-term inflation expectations.” Central Bank language translation: …