ECB raises rates to all-time high of 4%

Lagarde says “solid majority” supported raise but says some members opposed it

Christine Lagarde
Christine Lagarde

The European Central Bank increased its policy rates by 25 basis points today (September 14), taking them to the highest level in the eurozone’s history.

This was the ECB’s tenth consecutive rate increase. It brought the key deposit rate to 4%, the rate on main refinancing operations at 4.5% and the marginal lending facility rate to 4.75%.

The governing council signaled this was likely to be the last interest rate increase of the cycle. In the policy statement it says, “rates have reached

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