Video: ECB braces itself against record inflation with another mammoth interest rate hike

STORY: As expected, the key interest rate was raised again significantly on Thursday. With this, the ECB is bracing itself with another mammoth interest rate hike against the inflation in the euro area, which is rushing from record to record. The currency watchdog around the head of the central bank, Christine Lagarde, decided on Thursday to raise the key interest rate by 0.75 points to 2.0 percent. The deposit rate, which is decisive on the financial markets, was increased by the same amount to 1.5 percent. After September, this is the second XXL interest rate hike in a row and already the third tightening step overall. At the same time, the monetary watchdogs signaled their willingness to raise interest rates further: The central bank said that the ECB Council assumed that it would continue to raise interest rates.

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