After years of zero interest rates, the ECB has sharply raised interest rates in the eurozone since July. In July it was 0.5 percentage points, in September and October 0.75 percentage points respectively. This is also now 0.5 percentage point, bringing the deposit rate to 2%. With this increase in interest rates, the ECB is mainly trying to reduce high inflation, the too rapid increase in the cost of living, in the long run.
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