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Tags: Economy/Finance International News
The European Central Bank (ECB) has raised interest rates for the first time in more than 11 years as it tries to control soaring inflation. The central bank of 19 nations that share the euro currency, raised its key interest rate by 0.5 percent or 50 basis points to zero on 21 July 2022.
Negative Interest regime
Challenge of Inflation
Fear of Recession
European Central Bank (ECB)
The European Central Bank was set up on 1 June 1998.
It is the Central Bank of the 19 European Union countries which have adopted Euro as their common currency.
The European Union at present has 27 member countries.
The ECB makes monetary policy for the member countries
Euro as a common monetary unit was introduced on 1 January 1999
Member countries of Eurozone: Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland, Slovenia, Cyprus, Malta, Slovakia, Estonia, Latvia, Lithuania.
Headquarters of the ECB: Frankfurt, Germany
President of the ECB: Christine Lagarde
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