ECB Rate Decision

Dated events

1. June 5, 2014 · ECB introduces negative interest rates, a first for a major central bank
   The ECB cut its deposit rate below zero to minus 0.10%, meaning banks would effectively be charged for parking money at the central bank instead of lending it out. The goal was to push banks to lend more to businesses and families, and it made the euro less appealing to hold, weakening it against other currencies. This unusual policy stayed in place for eight years and reshaped how European banks earned money.
2. Jan. 22, 2015 · ECB launches massive bond-buying program (quantitative easing)
   ECB President Mario Draghi announced the bank would buy 60 billion euros of bonds each month to push prices up and fight dangerously low inflation across Europe. This flooded the financial system with new money, pushing borrowing costs to rock-bottom levels and making the euro cheaper compared to the dollar, which helped European exporters. In the weeks that followed, European share prices climbed sharply and the euro continued to weaken.
3. July 21, 2022 · ECB raises rates for first time in 11 years, bigger than expected
   The European Central Bank raised its key interest rate by 0.50 percentage points, ending years of negative rates, and surprising most observers who expected only a 0.25-point move. Banks stood to earn more on loans, but borrowers across Europe faced higher costs, and the euro briefly jumped before worries about a weakening eurozone economy and political turmoil in Italy pulled it back down. In the following weeks, markets adjusted to the idea that more rate increases were coming.
4. Sept. 14, 2023 · ECB raises rates to record high, then signals it may be done
   The ECB raised its deposit rate by 0.25 points to 4.0%, the highest level since the euro was created, but hinted this could be the last increase. Investors quickly shifted their focus from worrying about further rate rises to guessing when cuts might begin, which helped European real estate and utility stocks that had been hurt by rising borrowing costs. Even so, European government bond prices fell over the following weeks as borrowing costs rose worldwide, before recovering from November.
5. June 6, 2024 · ECB cuts rates for the first time since 2019
   The ECB lowered its deposit rate by 0.25 points to 3.75%, a day after the Bank of Canada had also started cutting. This mattered because cheaper borrowing costs help homebuyers, companies, and governments across Europe, and it signaled that the long fight against high prices was easing. The euro still rose slightly at first, because the ECB also raised its inflation forecasts and made no promise of further cuts.

Assets named in this scenario · 19

ABN AMROBanco SantanderBBVABNP ParibasCaixaBankCommerzbankCrédit AgricoleDeutsche BankEnel SpAEuro (EUR)IberdrolaING GroepIntesa Sanpaolo S.p.A.iShares MSCI Germany ETFSociété GénéraleUnibail-Rodamco-WestfieldUniCredit S.p.A.Vanguard FTSE Developed Markets ETFVonovia

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