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European Central Bank ignores market bets and raises its interest rate again

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Economy

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European Central Bank (ECB) President Christine Lagarde speaks during a press conference following the ECB's monetary policy meeting in Frankfurt, Germany, March 16, 2023.
European Central Bank (ECB) President Christine Lagarde speaks during a press conference following the ECB’s monetary policy meeting in Frankfurt, Germany, March 16, 2023. REUTERS – HEIKO BECKER

To keep up its fight against inflation, the ECB raised its interest rates by 50 basis points to 3%, its highest level since late 2008, despite calls from some investors to hold back monetary policy tightening until that the turmoil in the banking sector calm down. Also in the Economy Chronicle: Credit Suisse recovers after a day to be forgotten and the IDB Assembly begins in Panama.

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