Economy / Markets
ECB's September rate hike to 2.50% leaves deposit rate at post-2022 high with no pre-commitment
The European Central Bank raised its three key interest rates by 25 basis points on 10 September, taking the deposit facility to 2.50 percent, the main refinancing operations rate to 2.65 percent and the marginal lending facility to 2.90 percent, effective 16 September. New staff projections see headline inflation averaging 3.0 percent in 2026, 2.5 percent in 2027 and 2.1 percent in 2028, with growth upgraded to 0.9 percent in 2026 and 1.4 percent in 2027. The Governing Council said it is not pre-committing to a particular rate path.