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Added on the 27/10/2022 14:18:53 - Copyright : Euronews EN
The European Central Bank has slowed the pace of its interest rate increases, stepping back like the US Federal Reserve from a string of jumbo hikes aimed at snuffing out inflation.
European Central Bank President, Christine Lagarde, announces the ECB is lifting its key rates of interest by 75 basis points, leaving them sitting in a range of between 0.75 and 1.5 percent. It came after the bank hiked rates by 50 basis points in July, its first increase in more than a decade, in order to tame record eurozone inflation. These levels "will ensure the timely return of inflation to our 2% medium term target" she says, during a press conference in Frankfurt. SOUNDBITE
A small group of protesters demonstrate outside the Bank of England ahead of its decision to raise its key interest rate for the 14th time in a row by a quarter-point. Inflation remains stubbornly high in the United Kingdom amid a cost-of-living crisis, a problem protesters believe cannot be solved by raising rates.
The European Central Bank has pressed ahead with another interest rate hike, aiming to crush inflation that is driving up the cost of groceries, utility bills and summer vacations.
The European Central Bank unleashes another jumbo interest rate hike on the eurozone in an effort to combat record-high inflation, which has soared towards 10 per cent, and bring rising prices under control. The decision has been made despite concerns mounting over a darkening economic outlook. "With this third major policy rate increase in a row" says Christine Lagarde, ECB President, "we have made substantial progress in withdrawing monetary policy accommodation." SOUNDBITE
A number of London police have stepped back from firearms duties after a fellow officer was charged with murder over the fatal shooting of a young black man, a force spokesman said Sunday. Police in Britain are not routinely armed and the small proportion who are authorised to carry guns are highly trained.
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