Against a background of inflation and inflation projections deemed too high in relation to the symmetrical objective of 2% headline inflation in the medium term, the Governing Council of the European Central Bank (ECB), meeting in Frankfurt on Thursday 4 May, decided to continue tightening the ECB’s monetary policy.
The Governing Council announced a small increase of 25 basis points in the three key ECB interest rates. Thus, the interest rates on the main refinancing operations, the...