ECB raises rates again and signals more tightening
Tight labour market and core inflation surprises have driven forecasts higher, Lagarde says
The European Central Bank increased interest rates by 25 basis points again, and signalled additional hikes at its monetary policy meeting today (June 15).
The interest rate on the main refinancing operations is now 4%, the marginal lending facility is 4.25% and the deposit facility is now 3.5%.
The decision was widely expected. What came as a surprise were sharply higher core inflation projections and the confirmation by ECB president Christine Lagarde that a rate hike in July is almost
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