European Central Bank hikes Main Refinancing Rate

Source: Dukascopy Bank SA


The ECB has just increased its base interest rate from 4.00% up to 4.25%. In addition, the central bank has released its Monetary Policy Statement, which explains the reasoning behind the policy decision.

The move follows yesterday's Federal Reserve's 0.25% hike. The central banks have tightened monetary policy in a tandem effort to combat inflation without disrupting currency exchange rates

Note the upcoming ECB press conference at 12:45 GMT. The ECB President and Vice President are set to read out the Monetary Policy Statement and follow up with a questions and answers session with a select journalist audience.
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