ECB hikes interest rate by 25bps to 3.75%
Accordingly, the interest rate on main refinancing operations and interest rates on the marginal lending facility and the deposit facility will be increased to 3.75 per cent, 4.00 per cent and 3.25 per cent respectively with effect from MAY 10, 2023.
This marks a cumulative increase of 375 basis points since last year.