The European Central Bank raised Interest Rates by a Quarter of a percentage point Thursday, judging that Inflation remains too High ;
even as data points to a deepening economic downturn in the 20 countries that use the euro.
The move takes the benchmark rate in the euro area to 3.75%, the highest since October 2000.
History of prior EU Rate pauses:
4 months | Oct 00 - Apr 01
12 months | Jun 07 - Jun 08
3 months | Jul - Oct 2011
4 months | Sept 2023 - Present ⏳SO FAR⏳
At least they could say that this is not the shortest one ever now that we are into month 4.
Historical Average: 6 months (March 2024)
Interestingly this is when the Bank Term Funding Program in...
