The Governing Council Decides to Rake the Three Key ECB Rates by 50 Basis Points

The ECB raised interest rates by 50 basis points and expects to raise them significantly further. They are going to decline their QT at a rate of 15 billion euros per month from March 2023 onwards. As you can see, it sounds a lot like Powell, a lot like the United States. The euro area economy may contract in the current quarter and next quarter. And we'll see how this goes throughout winter over there too.

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