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Essentials of Monetary Policy

Central Banks in Europe - The European Central Bank and Bank of England Raise Rates Another 50 Points

February 2, 2023
Hendrix Vachon
Principal Economist

Unlike the Federal Reserve yesterday, the ECB and BoE didn’t slow their rate hikes today, opting instead to raise rates another 50 basis points. But the BoE appears closer to a pause. For its part, the ECB was clear that monetary tightening isn’t over yet. It plans to raise rates another 50 points in March.