- The European Central Bank (ECB) has announced it will be hiking interest rates by 75 basis points, making it the second straight rate increase.
- The deposit rate — which is the rate that defines the interest banks receive for depositing money with the central bank overnight — stands at 0.75%.
- Economic growth has been revised down markedly for the remainder of the current year and throughout 2023 with expectations for the economy to grow by 3.1% in 2022, 0.9% in 2023 and 1.9% in 2024.
European Central Bank hikes interest rates by 75 basis points 08.09.2022
