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The ECB has revised its outlook on inflation in the Eurozone upwards. Thus the ECB number one Christine Lagarde, in the press conference following the decision of the Governing Council of the ECB to raise the three reference interest rates of the euro area by 75 basis points.
In fact, the statement of the European Central Bank states that “the ECB experts have significantly revised upwards the projections on inflation, which would therefore reach an average of 8.1% in 2022, 5.5% in 2023 and to 2.3% in 2024 ”
Today, interest rates on main refinancing operations, marginal lending facility and central bank deposits will be raised to 1.25%, 1.50% and 0.75% respectively, with effect from 14 September 2022.