ECB raises rates again but Lagarde says pause is possible

Eurozone banks to receive zero interest on minimum reserves

ECB president, Christine Lagarde
Christine Lagarde

The European Central Bank increased rates by 25 basis points at its monetary policy meeting today (July 27), in a widely anticipated decision.

The decision brought the key deposit rate to 3.75%. The rates on the main refinancing operations are now 4.25% and are 4.5% on the marginal lending facility.

The ECB also reduced the interest it pays to eurozone banks on their minimum reserve holdings with it. However, ECB president Christine Lagarde signalled a rate pause is possible at the next policy

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