The European Central Bank on Thursday (15 December) announced it would continue its monetary austerity stance and keep on raising rates "at a steady pace."
"We are in for a long game," bank president Christine Lagarde told press in Frankfurt. "Interest rates will still have to rise significantly at a steady pace to reach sufficiently restrictive levels to ensure a timely return of inflation."
The governing council decided to raise interest rates by another 0.5 percent, bringing th...
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Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.