Economics

ECB Rushes to Tighten as Half-Point Hike Matched by Crisis Tool

First increase in more than a decade brings deposit rate to 0%
New instrument designed to avoid market jitters as rates rise

Error:

Could not download required scripts. Please update your browser or turn off ad blocker to continue to watch.

ECB's Lagarde: Inflation to Remain Undesirably High for Some Time

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Jana Randow, Carolynn Look, and Alexander Weber

July 21, 2022 at 12:18 PM UTC

Updated on

July 21, 2022 at 4:27 PM UTC

This article is for subscribers only.

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

The European Central Bank raised its key interest rate by 50 basis points, the first increase in 11 years and the biggest since 2000 as it confronts surging inflation even as recession risks mount.

Before it’s here, it’s on the Bloomberg Terminal

LEARN MORE