ECB Interest Rate Statement; Highest Since 2009

The European Central Bank (ECB) decided to increase the policy rate by 75 basis points. The interest rate was raised to 2 percent. The interest rate reached the highest level since 2009. The interest rate increase in the last 2 months was recorded as 1.5 points.

The European Central Bank (ECB) announced the interest rate decision that the markets were eagerly waiting for. The ECB raised the policy rate by 75 basis points to 2 percent. This rate was recorded as the highest level since 2009. With this decision, the ECB raised interest rates by a total of 1.5 points in two months. In the pricing in the money markets, it is certain that the ECB will raise interest rates by 50 basis points in the December meeting, while the possibility of a 75 basis point increase is taken into consideration. In addition, the European Central Bank raised its policy rate by 75 basis points to 1.25 percent for the first time in its 24-year history at last month's meeting.

Record Inflation in Europe

Annual inflation in the Eurozone, which was 9.1 percent in August, rose to 9.9 percent in September, breaking a record. In 18 countries, inflation reached double digits. The country where inflation was felt the most was Estonia with 24 percent, followed by Lithuania with 22 percent. In Germany, inflation reached the highest level in recent years and rose to 10 percent. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!