ECB increases rates by 75bp for second consecutive time
Governing council tightens TLTRO III rates and lowers reserve remuneration
The European Central Bank’s governing council made its second consecutive 75 basis point policy rate hike at its meeting today (October 27).
This is the ECB’s third rate rise since it started normalising policy in July, and brought the deposit rate to 1.5%. It started the cycle at -0.5%.
The policy statement says the governing council intends to “raise interest rates further” in order to bring inflation to the 2% target over the medium term. The ECB stressed “inflation remains far too high and
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