ECB announces 25bp rate raise and QE slowdown for July
September increase may be steeper, as ECB forecasts higher inflation and lower growth
The European Central Bank will lower policy rates and reduce its quantitative easing programme next month, it announced today (June 9).
The ECB said that its governing council had voted to raise its key rates by 25 basis points when it meets on July 6. Several media reports said that some governing council members had voted for a 50bp rise in July. The ECB said its council had voted for a further rate rise to happen in September, saying this could be more than 25bp if circumstances justified it
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