Daily Management Review

ECB Head: We will raise the rate by 50 basis points in March


In an interview with Spanish television station Antena 3, the ECB’s head Christine Lagarde stated that the European Central Bank (ECB) will once more increase its key rate by 50 basis points in March to slow down the inflation.

"The next meeting will see another increase; because inflation is too high, we must take the required steps to bring it down. The following month, there will be a 0.50 percent rise," she told.

According to Lagarde, the ECB's current goal is to bring inflation down to 2% by 2025. She also pointed out that interest rates themselves won't go back to where they were in 2019 and 2020.

At the conclusion of its conference in early February, the ECB increased its policy rate by 50 basis points, to 3% from 2.5%. In March, the authority also plans to increase the discount rate by an additional 50 basis points.

source: antena3.com