Taken for the last time in 2011, such a measure marks a major turning point after a long period when money was easily accessible in the euro zone.
Le Monde
For the first time in more than ten years, the European Central Bank (ECB) announced, Thursday, July 21, an increase in its interest rates of 0.5 point – more than expected – facing the ‘Galloping inflation and at the risk of recession. This decision marks a major turning point after a long period of money easily accessible in the euro zone.
The main interest rate thus goes from zero, where it has been camped since 2016, at 0.50 %, while that taxing part of the non -distributed credit liquidity in credit, negative since 2014, dates back -0.50 % to zero.
The increase is more important than expected: in June, the ECB had announced that the increase would be 0.25 point.
Addressing the cost of credit, for the first time since 2011, the ECB has followed suit with other central banks in the world. The American Fed has increased its interest rates since March and its range for the rate of federal funds, now between 1.5 and 1.75 %, could be noted at 75 base points at the end of July.