ECB raises rates by 75bp for the first time
Lagarde warns monetary policy will not bring energy prices down
The European Central Bank decided to increase interest rates by 75 basis points for the first time ever at its policy meeting today (September 8).
The move brought the eurozone’s deposit rate to 0.75%, and the ECB’s governing council signalled it will continue normalising its policy in the coming meetings. “We expect to raise interest rates further to dampen demand and guard against the risk of a persistent upward shift in inflation expectations,” says the policy statement.
ECB president
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