European Central Bank takes key rate to record high with quarter-point hike
- Europe
- AFP
- Published Date: 03:28 | 14 September 2023
- Modified Date: 03:28 | 14 September 2023
The European Central Bank on Thursday opted for another interest rate hike of 25 basis points, taking the closely-watched deposit rate to its highest level since the introduction of the euro in 1999.
The ECB's 10th straight interest rate hike lifts the benchmark deposit rate to a record-high 4.00 percent. The rate on the main refinancing operations now climbs to 4.50 percent and on the marginal lending facility to 4.75 percent.
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