The European Central Bank increased its key interest rate by a half percentage point, diverging from the Federal Reserve, and signaled it would keep pushing it higher
The European Central Bank raised its key interest rate by 0.5 percentage point, diverging from the Federal Reserve, and signaled it would enact a similar increase in March, as resilient economic growth in the eurozone and a rapid reopening of China’s economy are expected to keep inflation high.
The ECB’s move, its fifth large rate increase in a row, takes its key rate to 2.5%, the highest level since 2008. That is still some way below those of the Fed, which on Wednesday, and the Bank of England, which increased rates by a half percentage point to 4% earlier Thursday.
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