The European Central Bank has decided to increase the reference interest rate

The European Central Bank (ECB) announced on Thursday that it will increase by 0.25% reference interest, in the continuous effort to counteract and establish inflation in the euro area, according to information provided by Mediafax.

“Inflation continues to decrease, but it is expected to stay at a level too long. The Board of Governors is determined to ensure that inflation returns to the 2% medium -term target. Therefore, today it was taken the decision to increase the main three components of the reference interest by 0.25%. The decision to increase the interest reflects the assessment of the Governors’ Council on the prospects of inflation, the dynamics of the existing inflation and the force of the monetary policy. (…) The future decisions of the Governor Council will ensure that the ECB interest rate will be at sufficiently restrictive levels for the required periods so that inflation is brought back at the 2% level in the medium term, “announces the European Central Bank (ECB), in a statement posted on the site- the official and visualized by the Mediafax Agency.

“The Board of Governors has established the increase of the three key interest of the ECB by 0.25%. In this sense, the interest rates of the main refinancing operations, the marginal credit tool and the deposits were increased to the levels of 4.25%, 4, 50% and 3.75%, with an effect from August 2, 2023 “, stresses the European Central Bank.