Thursday, February 2, 2023
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

ECB Prepares to Rise Rates for First Time in 11 Years

in News
Ecb prepares to rise rates for first time in 11 years
Share on FacebookShare on Twitter

The European Central Bank confirmed its intention to hike interest rates at its July meeting and downgraded its growth forecasts.

The ECB announced that it intends to raise its key interest rates by 25 basis points next month. A further hike in the September meeting will be decided upon the inflation outlook.

“Beyond September, based on its current assessment, the Governing Council anticipates that a gradual but sustained path of further increases in interest rates will be appropriate,” the ECB said in a statement on Thursday. The bank also announced it will end a long-running bond buying scheme.

The ECB now expects annual inflation to reach 6.8% in 2022, declining to 3.5% in 2023 and 2.1% in 2024, marking a substantial increase from its March projections. Inflation in Europe surged last month to a record-high 8.1%.

The bank also cut its growth forecast for the eurozone from 3.7% to 2.8% for 2022, and from 2.1% to 1.6% for 2023.

Global markets had been waiting for the ECB’s decision, as high inflation keeps impacting the global economy. Now the ECB joined other central banks in raising rates.

The U.S. Federal Reserve began hiking rates in March and a 50-basis point hike in May, which was its largest increase in almost 22 years, with further aggressive hikes ahead.

Tags: ECBEuropean Central BankFederal Reserve

Related Posts

Airlines cancel over 1,800 u. S. Flights as ice storm hits multiple states
News

Airlines cancel over 1,800 U.S. flights as ice storm hits multiple states

Tinder owner to lay off 8% of its staff as growth falters
News

Tinder owner to lay off 8% of its staff as growth falters

Biden moves to slash u. S. Credit card fees, app charges
News

Biden moves to slash U.S. credit card fees, app charges

Intel slashes employee, exec pay amid pc market downturn
News

Intel slashes employee, exec pay amid PC market downturn

Payments firm paypal to lay off 7% of its workforce to cut costs
News

Payments firm PayPal to lay off 7% of its workforce to cut costs

Apple workplace rules violate u. S. Labor law, agency finds
News

Apple workplace rules violate U.S. labor law, agency finds

Walmart, cvs health adjust pharmacy hours due to labor crunch
News

Walmart, CVS Health adjust pharmacy hours due to labor crunch

Volvo group north america faces $130m civil penalty
News

Volvo Group North America faces $130M civil penalty

Tiktok ceo to testify before u. S. Congress over security concerns
News

TikTok CEO to testify before U.S. Congress over security concerns

 us debt not a crisis yet according to economists
News

 US debt not a crisis yet according to economists

No Result
View All Result

Recent Posts

  • Airlines cancel over 1,800 U.S. flights as ice storm hits multiple states
  • Tinder owner to lay off 8% of its staff as growth falters
  • Biden moves to slash U.S. credit card fees, app charges
  • New York City Votes To “Skip The Stuff” In Take-Out Orders
  • How to Test If Your Interview Process Is a Nightmare

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Interviews
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials – stuart.james@ceo-na.com

    Editor-In-Chief – caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising – media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

     

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials –
    stuart.james@ceo-na.com

    Editor-In-Chief –

    caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising –
    media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • CEO Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In