The European Central Bank (ECB) confirmed what was widely expected by analysts and financial markets. The institution decided to raise the interest rate by 25 basis points.
This decision is in line with the forecasts that economic analysts had made in the preceding weeks. The markets had already factored in this rise in their operations.
The 25 basis point increase represents the fourth consecutive restrictive monetary policy move by the ECB, in a context of fighting inflation in the euro area.
