ECB Announces Its Interest Rate Decision
The European Central Bank (ECB) decided to keep the policy rate constant at its 4th meeting of the year.
ECB Announces Its Interest Rate Decision. The European Central Bank held its 4th meeting of 2022 today. Once again, the decision to keep the interest rate fixed came out of the meeting.
Accordingly, the deposit rate remained constant at -0.50% and the policy rate at 0%. Market expectations were for the preservation of rates only for this meeting.
On the other hand, ECB revised its 2023 inflation forecast upwards. The bank, which expects the record high inflation in the Euro Zone to remain high this year, raised its forecast for the next year as well.
2022 year-end inflation forecast to 6.8% from 5.1%; The year-end forecast for 2023 has been increased from 2.1% to 3.5%.