One for the road. Has the ECB just delivered its final rate hike of the cycle?
By Wolfgang Bauer - 15 September 2023
Against the backdrop of stubbornly high – albeit receding – European inflation, the ECB’s Governing Council decided yesterday to raise its policy rates by yet another 25 basis points. This marks the tenth consecutive hike and lifts the ECB’s deposit rate, which had been at -0.5% only in mid-2022, to a whopping 4%. The burning question on many investors’ minds is, of course, was this the final hike of the cycle?
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