The ECB keeps increasing rates despite its forecasts being wrong
Channel: Positive Money Europe
Date: 2023-02-02

On Thursday 2nd February 2023, the European Central Bank (ECB) hiked its key interest rates by another 0.5 percentage points, hitting a total increase that is unprecedented in the history of the monetary union. The ECB tries to control inflation by “cooling down” the economy, but let’s be clear: this is not without consequences. Cooling down the economy essentially means decreasing workers’ incomes and increasing unemployment.

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