The inflation outlook continues to be too high for too long. In light of the ongoing high inflation pressures, the Governing Council today decided to raise the three key ECB interest rates by 25 basis points. Overall, the incoming information broadly supports the assessment of the medium-term inflation outlook that the Governing Council formed at its previous meeting. Headline inflation has declined over recent months, but underlying price pressures remain strong. At the same time, the past rate increases are being transmitted forcefully to euro area financing and monetary conditions, while the lags and strength of transmission to the real economy remain uncertain. The Governing Council’s future decisions will ensure that the policy rates will be brought to levels sufficiently restrictive to achieve a timely return of inflation tweet at 8:15am: #ECB Raises Refinancing Rate, Marginal Lending Rate, Deposit Facility Rate By 25Bps As Expected - Refinancing Rate: 3.75% Vs 3.50% - Marginal Lending Rate: 4.00% Vs 3.75% - Deposit Facility Rate: 3.25% Vs 3.00% $EUR tweet at 8:16am: *ECB Ready to Adjust All Instruments to Ensure 2% Price Goal Met ECB: Future Decisions Will Ensure That the Policy Rates Will Be Brought to Levels Sufficiently Restrictive tweet at 8:16am: ECB: AS CONCERNS PEPP, THE ECB INTENDS TO REINVEST PRINCIPAL PAYMENTS FROM MATURING SECURITIES PURCHASED UNDER PROGRAMME UNTIL AT LEAST END OF 2024. tweet at 8:16am: ECB: ECB’S FUTURE DECISIONS WILL ENSURE THAT POLICY RATES WILL BE BROUGHT TO LEVELS SUFFICIENTLY RESTRICTIVE TO ACHIEVE A TIMELY RETURN OF INFLATION TO 2% MEDIUM-TERM TARGET AND WILL BE KEPT AT THOSE LEVELS FOR AS LONG AS NECESSARY.