Thursday, August 3, 2006

ECB raises the base rate by 0.25% to 3.0%

ECB raises interest rates to 3%

The European Central Bank (ECB) has raised interest rates by a quarter of a percentage point to 3% on Thursday to target inflation. With inflation in the eurozone at 2.5% over the past three months, well above the bank's 2% target, most analysts predicted the rise.

Posted by webmaster @ 12:51 PM (494 views)
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2 thoughts on “ECB raises the base rate by 0.25% to 3.0%

  • Good. It has been getting pretty expensive over here. I may even get some interest on my Euro savings now !

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  • I suspect that the MPC and ECB are in the same boat here economically as the rate rise has been pretty much pegged together. I suspect the ECB told the MPC what they were going to do and the MPC followed suit to avoid a run on the pound.

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