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ECB Raises Interest Rates by a Historic 0.75 Point as Europe Stares at Recession
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FRANKFURT—The European Central Bank said it would raise its key interest rate by 0.75 percentage point, the biggest increase since the early days of Europe’s monetary union, moving aggressively to combat record inflation even as an energy crisis puts Europe on the brink of recession.
The bank said in a statement that it would increase its key rate to 0.75% from zero—its second hike this year following a 50-basis-point rise in July—and signaled that further rises were likely this year.
Read more on wsj.comAbout this in other media
UK in recession and further interest rate hikes probable, Bank warns Kwarteng theguardian.com /2 years ago
Japan forced to prop up yen after bank keeps to negative interest rates theguardian.com /2 years ago
Fed Raises Interest Rates by 0.75 Percentage Point for Third Straight Meeting wsj.com /2 years ago
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