Euro (EUR): ECB Raised The Interest Rate By 50bps. It's The First Hike In Over A Decade!

Euro

Yesterday, The European Central Bank increased interest rates in an attempt to harness growing inflation within the eurozone. The ECB pushed its benchmark rate up by 50 basis points for the first time in 11 years. "The Governing Council judged that it is appropriate to take a larger first step on its policy rate normalisation path than signalled at its previous meeting," the ECB said in its statement yesterday.

Euro

Following the release of the data, the euro has been trading down -0.74% at $1.0154

ICM.COM Market Updates

ICM.com is a UK-based, global, multi-regulated broker, and financial services provider, providing online foreign exchange (FOREX) and Contract for Difference (CFDs) trading solutions as well providing access to most of the world’s stock exchanges via its ICM Securities platform.

ICM’s aim is to provide a safe online trading environment and comprehensive support to all its customers with no compromise on speed, performance, variety of instruments, or price.

The company provides one of the highest levels of insurance in the industry. Client funds are secured in segregated accounts with tier 1 banks and they offer a variety of ways to ensure your funds are always easily accessible. They also have a Civil Liability Insurance Programme that covers up to £5 million.

ICM.com have over 5,000+ products available including currencies (FOREX), Indices, Commodities, precious metals, futures, and cryptocurrencies making them a one-stop-shop for all your trading needs. Its products can be traded via the MetaTrader 4, MetaTrader 5, or cTrader platforms. The company also provides access to all the major stock exchanges globally via its ICM Securities platform.

Euro (EUR): ECB Raised The Interest Rate By 50bps. It's The First Hike In Over A Decade!

Table of contents

Euro

ICM.COM Market Updates

Topics