Adjusted, base rate goes to 3.50%; decision seeks to respect the inflation target of 2%
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.