EZB: Zehnte Leitzins-Erhöhung in Folge

The European Central Bank (ECB) continues its course of raising interest rates in the fight against inflation with its tenth consecutive increase. On Thursday, it raised the key rates by a quarter percentage point, just as it did in July. As a result, the benchmark interest rate in the Eurozone now stands at 4.5 percent.

The deposit rate, which is a key indicator in the financial markets and represents the interest rate banks receive for parking excess funds, increases from 3.75 to 4.00 percent. This is the highest level since the establishment of the currency union in 1999.