The decision of the European Central Bank will come after the increase of 25 basis points made by the Federal Reserve of the United States, in an attempt to control inflation.
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The European Central Bank (ECB) will raise its interest rates today by half a percentage point, up to 3 %and will give clues as to what he is going to do in March and May.
After the meeting, the ECB will announce details of the quantitative reduction of the debt purchase program that began in October 2014, although surprises that affect the market are ruled out for the moment.
This new increase occurs after yesterday’s decision by the Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed) a rise in the country’s interest rates of 25 basis points, until placing them in a target range of between 4.50% and 4.75%, as reported this Wednesday.
The personal consumption spending price index, the variable preferred by the Fed to monitor the inflationstood last December in the 5% YoY and five tenths less than the previous month. The monthly rate registered an expansion of 0.1%, without changes compared to the previous month.
The underlying variable, which excludes energy and food prices from its calculation due to their greater volatility, stood at 4.4%, three tenths less.
In addition, the US job market created 223,000 jobs during the past month of December. On his side, unemployment fell two tenths to 3.5%, according to the Office of Labor Statistics of the Department of Labor.
In this way, unemployment recovers the minimum level reached before the pandemic and which, also, was its lowest rate in several decades.
The country’s economy experienced a growth of 0.7% of its GDP in the fourth quarter and 2.1% in the whole of 2022, has revealed the Bureau of Economic Analysis (BEA, for its acronym in English).
Source: Eitb
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