ECB raises interest rates by another 50 bps

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ECB raises interest rates by another 50 bps

STORY: ECB raises interest rates by another 50 bps DATELINE: March 17, 2023 LENGTH: 00:01:00 LOCATION: FRANKFURT, Germany CATEGORY: ECONOMY SHOTLIST: 1. various of the European Central Bank (ECB) 2. SOUNDBITE (English): CHRISTINE LAGARDE, ECB President 3. various of city scenes STORYLINE: The European Central Bank (ECB) on Thursday raised interest rates by another 50 basis points (bps), citing spiraling inflation in the eurozone. After the rate hike, the interest rates on the main refinancing operations, on the marginal lending facility and on the deposit facility will be increased to 3.5 percent, 3.75 percent and 3 percent respectively. SOUNDBITE (English): CHRISTINE LAGARDE, ECB President "Inflation is projected to remain too high for too long. Therefore, the Governing Council today decided to increase the three key ECB interest rates by 50 basis points." The decision reflected the bank's determination to bring the inflation down to its 2 percent target. The 50 bps rate hike on Thursday was pre-commi

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