2min chapter

The ECB Podcast cover image

What interest rate hikes mean for you, the economy and inflation

The ECB Podcast

CHAPTER

Introduction

e c b president christine legarde announced decision to raise interest rates by nort point, five percentage points. It's the first time our rates have gone up in el ven years. Inflation is high, and it's putting a strain on people. Supply bottle necks, high demand and a lower exchange rate are pushing up prices too. The economy is also growing more slowly, and borrowing is getting more expensive for people and businesses. Many are worried that too high inflation is here to stay. That's why we've raised interest rates, to send the message that we will not allow inflation to stay above two %. A couple of weeks ago, before we decided to raise rates, i spoke

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