Quick Glance: ECB Increases Key Interest Rate to 4.5 Percent
- For the tenth consecutive time, the ECB raises the key interest rate from 4.25 to 4.5 percent.
- The central bank now predicts an inflation rate of 5.6 percent for the current year.
- In its June forecast, the ECB had expected an inflation rate of 5.4 percent for the average of 2023.
- The central bank also predicts a higher inflation rate of 3.2 percent (June forecast: 3.0 percent) for 2024, and a slightly lower rate of 2.1 percent (2.2 percent) for 2025.
Quick Glance: Inflation rate rises to 6.4 percent in June
- Inflation in Germany gains momentum again.
- Consumer prices in June were 6.4 percent higher than the previous year.
- Energy prices rise below average at 3.0 percent.
- ECB aims for price stability with a two percent inflation rate.
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