Policymakers at the European Central Bank have decided on another sharp increase in its key interest rates to tame inflation.
The ECB's Governing Council said on Thursday it will raise rates by 0.75 percentage points. The bank usually changes rates by a quarter point.
This is the third consecutive rate hike following previous increases in July and September.
Preliminary data show that inflation in the 19-country eurozone, which includes Germany and France, touched 10 percent last month.
The ECB says its monetary policy is "aimed at reducing support for demand and guarding against the risk of a persistent upward shift in inflation expectations."
The ECB's Governing Council said on Thursday it will raise rates by 0.75 percentage points. The bank usually changes rates by a quarter point.
This is the third consecutive rate hike following previous increases in July and September.
Preliminary data show that inflation in the 19-country eurozone, which includes Germany and France, touched 10 percent last month.
The ECB says its monetary policy is "aimed at reducing support for demand and guarding against the risk of a persistent upward shift in inflation expectations."
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Summary
European Central Bank raises interest rates by 0.75 percentage points, third consecutive hike to combat inflation at 10% in the eurozone. The ECB's monetary policy aims to reduce demand support and control rising inflation expectations. Previous rate increases occurred in July and September.
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ID: 7e5f64e6-5203-4261-a8ee-655f088c70ed
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221028_04/
Date: Oct. 28, 2022
Created: 2022/10/28 07:27
Updated: 2025/12/09 12:16
Last Read: 2022/10/28 18:27