The European Central Bank raised interest rates by 25 basis points to 3.25%, as expected on Thursday, and said it would stop reinvesting maturing debt money into its 3.2% asset purchase program from July. trillion euros.
The central bank of the 20 euro-sharing countries has so far raised rates by a total of 375 basis points since last July, its fastest pace of tightening, but further moves are still likely given mounting wage and price pressures .
The interest rate hike, a slowdown after three consecutive 50-point hikes, comes days after euro zone banking data showed the biggest drop in loan demand in more than a decade. This suggests that past interest rate hikes are hurting the economy and that ECB policies are now limiting growth.
Source: Terra
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