ECB slows down tightening with 25bp rate increase
Lagarde insists the governing council is “not pausing” its tightening cycle
The European Central Bank’s governing council slowed its monetary policy tightening at its meeting today (May 4), raising rates by 25 basis points.
This is the smallest rate increase since the ECB started its current tightening cycle in July. It has raised rates by 75bp twice and 50bp four times. The governing council also approved a modest acceleration in its quantitative tightening process.
The ECB’s key deposit rate is now at 3.25%, while the main refinancing rate is 3.75% and the marginal
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