The Governing Council today decided to raise the three key ECB interest rates by 75 basis points.

According to Eurostat’s flash estimate, inflation reached 9.1% in August. Soaring energy and food prices, demand pressures in some sectors owing to the reopening of the economy, and supply bottlenecks are still driving up inflation.

ECB staff have significantly revised up their inflation projections and inflation is now expected to average 8.1% in 2022, 5.5% in 2023 and 2.3% in 2024, and the economy to grow by 3.1% in 2022, 0.9% in 2023 and 1.9% in 2024.

Source: ECB
Post by: Republic of Türkiye Ministry of Trade