Inflation slowing but expected to be 'too high for too long': ECB

The ECB said in a statement that it expects "that inflation will drop further over the remainder of the year but will stay above target for an extended period".

AFP

July 27, 2023 / 18:16 IST

ECB's ninth straight increase today took the closely-watched deposit rate to 3.75 percent

Eurozone inflation is slowing but is still expected to be "too high for too long", the European Central Bank said Thursday as it raised interest rates for the ninth consecutive time.

The ECB said in a statement that it expects "that inflation will drop further over the remainder of the year but will stay above target for an extended period".

AFP

first published: Jul 27, 2023 06:16 pm

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