The ECB further increases its reference rate by 0.25 points

By Le Figaro with AFP

Published ,

French Christine Lagarde has headed the European Central Bank since 2019. KAI PFAFFENBACH / REUTERS

There European Central Bank (ECB) ends the suspense. The Frankfurt institution finally increases its reference rate by 0.25 points, to the highest level in its history. This decision comes after nine consecutive increases in rates, from -0.50% to 3.75% (for the deposit rate). The twenty central bank governors of the euro zone and six members of the executive board entered into a conclave on Wednesday morning in Frankfurt, at the headquarters of the ECB.

The ECB is undoubtedly closing a monetary policy cycle this Thursday, before a new era. Next week, the US Federal Reserve should undoubtedly mark a further pause in its rise in rates, which have already reached more than 5.25%. On the other hand, the Bank of England could raise its key rate (5.25%) for the fifteenth time in the face of inflation that is still not under control. Uncertainty remains over the attitude of the Swiss, Swedish and Norwegian central banks, which are also meeting next week.

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