SI=0%, I=7
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ECB raises interest rate by 25 basis points taking its main rate to 3.75%.
“Inflation continues to decline but is still expected to remain too high for too long,” the ECB said in a statement.
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The ECB kept options foe September meeting open.
The Governing Council’s future decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to the 2% medium-term target. The Governing Council will continue to follow a data-dependent approach to determining the appropriate level and duration of restriction," the statement added.
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The rate hike was widely expected by the market.
Monetary policy decisions
https://www.cnbc.com/2023/07/27/ecb-rate-decision-july-2023-raises-rates-by-25-basis-points.html