Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

The ECB raises interest rates and continues with its plan to put the cost of the economic crisis at the cost

  • The ECB increases interest rates by half and puts them at 3.5%. Following the collapse of the US bank Silicon Valley, he doubted what Frankfurt was going to do, but the path of falling inflation has been maintained and the cost of the economic crisis has returned to the people’s expense.
Ikusmina sortu du EBZko agintarien osteguneko prentsaurrekoak. Argazkia: EBZ

17 March 2023 - 08:21
Zarata mediatikoz beteriko garai nahasiotan, merkatu logiketatik urrun eta irakurleengandik gertu dagoen kazetaritza beharrezkoa dela uste baduzu, ARGIA bultzatzera animatu nahi zaitugu. Geroz eta gehiago gara, jarrai dezagun txikitik eragiten.

Christine Lagarde, leader of the European Central Bank, announced on Thursday afternoon a 0.5% increase in interest rates, despite the risk of interbank crisis.

Lagard says that they are vigilant and that the economic situation will tell whether interest rates will increase further from now on. Since last July interest rates have risen by 3.5%, directly raising the Euribor rate and making mortgages more expensive for millions of citizens.

There were doubts about what the central bank was going to do, following the earthquake that the collapse of the US bank Silicon Valley caused in the financial sector, but Frankfurt continues with its plan to leave to the citizens the cost of rising energy and food prices.

In order to contribute to the reduction of inflation, the ECB aims to reduce consumer demand by reducing the level of public purchasing power through mortgages and increasing unemployment.

The aim of the measure is to reduce consumer demand in order to contribute to the reduction of inflation by reducing the level of public purchasing power, especially through mortgages and rising unemployment.

On Thursday morning the Swiss bank Credit Suisse asked the Swiss central bank for a liquidity of EUR 50 billion due to the drop in the stock market caused by the Silicon Valley disaster and the "market upset". This has reinforced doubts about the "health" of European banks.

However, ECB Vice-President Luis de Guindos pointed out that Credit Suiss has a "limited" level of pollution and is "Europe's resilient banking industry".

Therefore, the main engine of the European financial economy continues with its own: to make money more expensive and to impoverish the citizens, as it did with the 2008 crisis.

 

 


You are interested in the channel: Europako Banku Zentrala
The drop in interest rates, how will it affect the housing crisis?
The European Central Bank will cut interest rates this Thursday, after two years of continuous growth. The increase or decrease in money has a direct impact on Euribor and the mortgages that citizens have to pay. But how will this change be noticed?

The Federal Reserve EE.UU. stops making money expensive for fear of recession and further bank collapse
The Federal Reserve has decided to maintain interest rates for the first time in a year, after a steady increase. The main argument is that inflation has fallen, but behind there are more ghosts, such as the economic recession and doubts about the situation in the American... [+]

"Food must be paid", ECB warning to countries with high public debt
A number of economists point out on a ECB blog that progressive and effective measures are being taken; otherwise, severe cuts will have to be made in the future or high inflation will be maintained to keep countries’ profits above debt.

Raising interest rates: "It can increase unemployment, but we will do what we have to do"
The ECB raises interest rates to 2%. In the last few months, for the third time in a row, it has made a huge climb to combat inflation. But this, besides affecting mortgages and citizens’ pockets, can lead to an economic recession for many experts and further unemployment.

Interest rate: rise, impoverish
The price of the money market, the interest rate, continues to grow in central banks around the world, even in Europe. The European Central Bank (ECB), after several years of almost free donations, increased this rate by 0.50% in July and 0.75% in September, the biggest historic... [+]

The expropriated class in Europe
Citizens without heritage, in poverty
All the data and statistics from recent years say that the majority of European society has become poorer. The economic policy of institutions such as the European Central Bank has to do with this, and social inequality will increase more between the owners of a certain heritage... [+]

The Bank of Spain says they can raise interest rates to 2.5%
The Governor of the Bank of Spain, Pablo Hernández Cos, announced at an event held at the BEC in Barakaldo that the European Central Bank plans to raise interest rates between 2.25% and 2.5%.

Lagard and De Guindos get your mortgage
Carlos Sánchez Mato is professor of applied economics at the University of Madrid and responsible for the programming of Ezker Batua. We have translated into Basque the article he has written in the middle of El Salto. "The European Central Bank has decided to raise the price of... [+]

2022-09-13 | ARGIA
Euribor rises to 2% and mortgage rises 35% to thousands of households
The increase in interest rates agreed by the European Central Bank is the highest in history. The Eurybor rate is the rate used by banks to calculate contributions in variable rate mortgages and has risen to 2% on 9 September. This will mean that the cost of paying housing for... [+]

The European Central Bank increases interest rates by 0.50%, twice as much as expected.
The European Central Bank has at last increased interest rates by twice as much as announced a few weeks ago, by 0.50%. It reverses the trend of eleven years and stops offering cheap money to break with the increase in inflation.

Why increased interest rates will not serve to curb inflation
The European Central Bank will increase interest rates by 0.25% in July and will stop buying the debt for the first time in eleven years. Banking authorities have argued that this is a measure to deal with price increases, but will it?

The economy of the European Union in the midst of the war in Ukraine
Tank above Keynes
The Ukrainian war has questioned the economic measures that had been announced for the economic recovery after COVID-19. In recent weeks the Community authorities have taken decisions of a wide variety of kinds. Some of them will directly affect the life of the general public... [+]

Europako Banku Zentralak zor publiko gutxiago erosiko du, pandemiaren inguruko aurreikuspen hobeak eskuan

Covid-19aren krisiari aurre egiteko Europako Banku Zentralaren zor publikoaren erosketa planean aldaketak iragarri ditu Christine Lagarde bankuko presidenteak: inflazioaren gorakadaren eta aurreikuspen hobeen aurrean, erritmo motelagoan erosiko dute zorra.


2020-07-16 | Mikel Eizagirre
Yanis Varoufakis
“Troikaren itzuleraren beldur bazara, badituzu horretarako arrazoiak. Troika itzuli egingo da”

Greziako Finantza ministro ohia susperraldi-funtsaren inguruko negoziazioez mintzatu da El Diario.es egunkariari eskainitako elkarrizketan. Asteburu hontan egingo da goi-bilera, eta Europar Batasuneko herrialdeek koronabirusaren efektuak leuntzeko funts komuna jasotzeko... [+]


Eguneraketa berriak daude