Thu, Dec 01, 2022 @ 20:09 GMT
HomeLive CommentsECB hikes 75bps, recalibrates TLTRO III

ECB hikes 75bps, recalibrates TLTRO III

ECB raises interest rates by 75bps as widely expected. The main refinancing, marginal lending, and deposit rates are 2.00%, 2.25%, and 1.50% respectively, with effect from November 2. The central bank also maintains tightening bias, and said, it “expects to raise interest rates further, to ensure the timely return of inflation to its 2% medium-term inflation target.”

Future policy rate path will be based on the “evolving outlook for inflation and the economy”, and follow its “meeting-by-meeting approach.

Also, the terms and conditions of the TLTRO III refinancing operations are changed, and “recalibrated” to ensure consistency with broader monetary policy normalization process.

Full statement here.

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