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ECB hikes interest rates by 75 basis points, taking deposit rate to 1.5%

The European Central Bank on Thursday lifted its key interest rates by 75 basis points, or 0.75 percentage point, as expected and said it would continue to hike rates in response to inflation that “remains far too high.” The increase, which was expected, takes the deposit rate to 1.50%, while the refi rate rises to 2% and the marginal lending facility rate rises to 2.25%.

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