The European Central Bank’s headquarters in Frankfurt. PHOTO: Profimedia While the deposit rate will now be 2.25 percent, the interest rates for main refinancing operations and the marginal lending facility will be 2.40 and 2.65 percent, respectively. The new interest rates will take effect on June 17.
“The war in the Middle East is creating inflationary pressures, and the decision to raise interest rates is also the right one, according to several scenarios that show how the shock could develop and affect medium-term expectations in the euro area,” the ECB explained the decision to change.
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