European Central Bank raises interest rates by 0.25 percentage point

The ECB (European Central Bank) announced this Thursday (June 15, 2023) an increase in the basic interest rate by 0.25 percentage points, to 3.50%. AThe refinancing, loan and deposit rates will be increased to 4%, 4.25% and 3.5%, respectively. Here is the full statement (147 KB, in English). According to the financial institution, the decision is in line with “determination” in securing the medium-term inflation target of 2%. The annual consumer price index in the Eurozone stood at 6.1% in May.