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The European Central Bank raises interest rates to a record. Breaking

 
Limpan

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09/08/2022 08:19 AM

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The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

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Here we go....



hidinghidinghidinghiding
Limpan  (OP)

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09/08/2022 08:21 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
European Central Bank raises rates by 75 basis points to tackle soaring inflation


The European Central Bank on Thursday announced a 75 basis point interest rate rise, taking its benchmark deposit rate to 0.75%.

“This major step frontloads the transition from the prevailing highly accommodative level of policy rates towards levels that will ensure the timely return of inflation to the ECB’s 2% medium-term target,” it said in a statement.

It added it “expects to raise interest rates further, because inflation remains far too high and is likely to stay above target for an extended period.”

Markets had largely priced in a 75 basis point hike.

The move follows a hike from -0.5% to zero at the ECB’s July meeting. The central bank, which sets monetary policy for the 19 euro-using nations, has kept rates in negative territory since 2014 in a bid to spur spending and combat low inflation.

The central bank now faces a very different problem, with consumer prices in the euro zone rising by 9.1% in August, setting a ninth consecutive record.

Inflation is being turbocharged by runaway energy prices, which have soared since Russia’s invasion of Ukraine in February. Price rises are also being seen in areas including food, clothing, cars, household appliances and services. Factors including ongoing supply chain issues and knock-on effects of recent heatwaves have helped drive up prices.

The ECB’s move indicates it is willing to sacrifice growth in order to combat these pressures.

Gross domestic product across the euro zone increased by 0.8% in the second quarter, however, many analysts say a euro zone recession is all-but-inevitable in the coming months as consumer spending power is squeezed and businesses struggle to pass on higher input costs.

As in the U.S., recession warnings come despite an extremely tight labor market, with unemployment across the bloc at a record low of 6.6%.

Thursday’s rate rise keeps the ECB below its “neutral” rate of between 1% to 2%.

Konstantin Veit, portfolio manager at investment firm Pimco, told CNBC’s “Squawk Box Europe” Thursday that it was now “uncontroversial” within the Frankfurt-based institution to get within this range before the end of the year.

The “more interesting” question now, he said, was what its “terminal rate” — the highest point— will be during this hiking cycle.

Markets will now be hunting for clues as to whether it will move above the neutral range into tightening territory.
Anonymous Coward
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09/08/2022 08:22 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
Putin rate hike 1rof1
Limpan  (OP)

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09/08/2022 08:23 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
Electric bill, interest rates going up.......

Prepare for a dark winter.....get ready boys and girls...



poorjohnny
Limpan  (OP)

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09/08/2022 08:23 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
Putin rate hike 1rof1
 Quoting: Anonymous Coward 83842218


rofl5
T-Man
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09/08/2022 08:24 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
crypto not doing much yet

jay
FHL(C)

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09/08/2022 08:25 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

[link to www.aftonbladet.se (secure)]


Here we go....



hidinghidinghidinghiding
 Quoting: Limpan


That will hurt a lot of people
YAHshua the sound of His Name in English, YAH is short form of YHVH,
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Anonymous Coward
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09/08/2022 08:29 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
windmills, tilting.
T-Man
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09/08/2022 08:30 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

[link to www.aftonbladet.se (secure)]


Here we go....



hidinghidinghidinghiding
 Quoting: Limpan


That will hurt a lot of people
 Quoting: FHL(C)


meh, add it to the list, covid, inflation, oil, gas, electricity, soon returning restrictions lmao
Anonymous Coward
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09/08/2022 08:33 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
what exactly are the consequences of this step?
Anonymous Coward
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09/08/2022 08:34 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
The freaks are about to hyperinflate the euro,

to allegedly rescue the euro zone, the euro is going to zero,

watch out for the next big false flag to cover up that piece of the story beside the fall of the UK and the US(national entities), the great reset, next to the false flag comes the nuclear war between the luciferian hosts and the Kings of the East.

Doom on guys.
Anonymous Coward
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Netherlands
09/08/2022 08:36 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
The freaks are about to hyperinflate the euro,

to allegedly rescue the euro zone, the euro is going to zero,

watch out for the next big false flag to cover up that piece of the story beside the fall of the UK and the US(national entities), the great reset, next to the false flag comes the nuclear war between the luciferian hosts and the Kings of the East.

Doom on guys.
 Quoting: Anonymous Coward 84154211


They ran out of greece?

"Ha! I HAD TO!"

GOD BLESS THE GREEKS

epiclol
Anonymous Coward
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09/08/2022 08:37 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
After the crash they will blame climate change, intolerance and conspiracy theories about families.
Anonymous Coward
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09/08/2022 08:45 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
Futures markets not reacting to this at all. However, Silver has been on a bit of a tear lately. But usually, they just knock that back down in its place.

[link to finviz.com (secure)]
Anonymous Coward
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09/08/2022 08:45 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
After the crash they will blame climate change, intolerance and conspiracy theories about families.
 Quoting: Anonymous Coward 79695451


The aftermath of the the financial collapse is an insane civil unrest spreading worldwide, epic times incoming, billions are gonna be wiped out, the death shot was probably meant to cut off that sequence to the shortest time span possible, the shock will be so great that many will just collapse in few seconds, deadly EMF pulse will also help to cull the masses more efficiently.

Stock up on pasta amigo.
Anonymous Coward
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09/08/2022 08:50 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
Futures markets not reacting to this at all. However, Silver has been on a bit of a tear lately. But usually, they just knock that back down in its place.

[link to finviz.com (secure)]
 Quoting: Anonymous Coward 34166608


It's all rigged by the Federal Reserve Banks and the International Monetary Fund, all the paper work is toxic and meaningless, once the next 'event' will happen all that crap will be worth zero.

They want all you greedy boys and girls to stay put and do business as usual, meanwhile a death wave is coming to wipe you out in one day.

Time to wake up, right ?
Anonymous Coward
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Netherlands
09/08/2022 08:59 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
After the crash they will blame climate change, intolerance and conspiracy theories about families.
 Quoting: Anonymous Coward 79695451


The aftermath of the the financial collapse is an insane civil unrest spreading worldwide, epic times incoming, billions are gonna be wiped out, the death shot was probably meant to cut off that sequence to the shortest time span possible, the shock will be so great that many will just collapse in few seconds, deadly EMF pulse will also help to cull the masses more efficiently.

Stock up on pasta amigo.
 Quoting: Anonymous Coward 84154211


My spaghetti supplies are constantly insufficient. I love it!!!
Limpan  (OP)

User ID: 76694229
Sweden
09/08/2022 09:10 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

[link to www.aftonbladet.se (secure)]


Here we go....



hidinghidinghidinghiding
 Quoting: Limpan


That will hurt a lot of people
 Quoting: FHL(C)


meh, add it to the list, covid, inflation, oil, gas, electricity, soon returning restrictions lmao
 Quoting: T-Man


It is going to be a fun winter....


mash-cheers5
T-Man
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09/08/2022 09:27 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

[link to www.aftonbladet.se (secure)]


Here we go....



hidinghidinghidinghiding
 Quoting: Limpan


That will hurt a lot of people
 Quoting: FHL(C)


meh, add it to the list, covid, inflation, oil, gas, electricity, soon returning restrictions lmao
 Quoting: T-Man


It is going to be a fun winter....


mash-cheers5
 Quoting: Limpan


i bet you i will still have to go to work every day

huffy
Limpan  (OP)

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09/08/2022 09:31 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
...


That will hurt a lot of people
 Quoting: FHL(C)


meh, add it to the list, covid, inflation, oil, gas, electricity, soon returning restrictions lmao
 Quoting: T-Man


It is going to be a fun winter....


mash-cheers5
 Quoting: Limpan


i bet you i will still have to go to work every day

huffy
 Quoting: T-Man





Naaaaa...Skip It...Atleast If You Work In A Factory In Germany

hf
T-Man
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09/08/2022 09:41 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
hf
Tess.

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09/08/2022 10:00 AM

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Re: The European Central Bank raises interest rates to a record. Breaking
I've got a tracker mortgage linked to the ECB rate. They stopped them soon after because they were so cheap. My mortgage payments have been the same for years but it went up last month and now again

Sign of the times. Or rather sign that the good times have come to an end. Big-time.

Last Edited by Tess. on 09/08/2022 10:01 AM

Civilisation is at a crossroads
"Unfortunately the Barbarians dwell among us and our country is grown so weak and pathetic that the Barbarians must be appeased in the name of diversity and cultural sensitivity"
~ Allison Pearson
Anonymous Coward
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France
09/08/2022 10:16 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
I've got a tracker mortgage linked to the ECB rate. They stopped them soon after because they were so cheap. My mortgage payments have been the same for years but it went up last month and now again

Sign of the times. Or rather sign that the good times have come to an end. Big-time.
 Quoting: Tess.


Never sign over a contract involving a floating interest rate, a variable or adjustable rate, the lenders are going to be put under pressure and turn over you and juice you up to get the money they owe to someone else, a dreadful chain reaction, remember 2008 ?
Anonymous Coward
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09/08/2022 10:47 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
All ridiculous bs. Inflation 50% a year -> raising rates 0.75%.
Anonymous Coward
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09/08/2022 11:16 AM
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Re: The European Central Bank raises interest rates to a record. Breaking
We will own nothing, remember? all banks will take our houses and rent it back to us so that we have somewhere to cook our crickets.
Anonymous Coward
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United States
09/08/2022 02:19 PM
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Re: The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

[link to www.aftonbladet.se (secure)]


Here we go....



hidinghidinghidinghiding
 Quoting: Limpan


Wow…1.25% interest rate.

It’s all over for Europe now!
Anonymous Coward
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France
09/08/2022 02:24 PM
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Re: The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

[link to www.aftonbladet.se (secure)]


Here we go....



hidinghidinghidinghiding
 Quoting: Limpan


Wow…1.25% interest rate.

It’s all over for Europe now!
 Quoting: Anonymous Coward 83858593


That's when bubbles go boom.
T-Man
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Netherlands
09/08/2022 02:31 PM

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Re: The European Central Bank raises interest rates to a record. Breaking
The European Central Bank (ECB) raises the key interest rate by 0.75 percentage points to 1.25 percent. It is the largest increase in the bank's history. (TT)

[link to www.aftonbladet.se (secure)]


Here we go....



hidinghidinghidinghiding
 Quoting: Limpan


Wow…1.25% interest rate.

It’s all over for Europe now!
 Quoting: Anonymous Coward 83858593


what does it even mean? and how does it matter in any way shape or form in a fake economy thats already being bombarded with covid lockdowns, energy prices, oil prices, inflation etc

cmonman
Anonymous Coward
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09/08/2022 02:33 PM
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Re: The European Central Bank raises interest rates to a record. Breaking
AND..THE DEATH OF THE OLDE LIZARD WITCH TA'BOOT! WOO HOO!





GLP