ECB headquarters in Frankfurt am Main: slowed down
Photo: Dirk Sattler / IMAGO
In its fight against high inflation, the European Central Bank is slowing down the pace of interest rate hikes.
The monetary authorities around ECB boss Christine Lagarde decided on Thursday to raise the key interest rate by half a percentage point – to 2.50 percent.
The ECB is thus following the example of the Fed, which moderated its interest rate hike course somewhat on Wednesday.
The Norwegian central bank is also fighting the high inflation in the country with another rate hike.
The monetary authorities in Oslo increased the key monetary policy rate on Thursday from 2.50 to 2.75 percent.
In July, the euro watchdogs said goodbye to their years of ultra-loose monetary policy and raised interest rates for the first time since 2011.
Further steps followed in rapid succession in September and October, so that the key interest rate is currently 2.00 percent and the deposit rate, which is important for the financial markets, is 1.50 percent.