ECB Rate Cuts Accelerating Just 3 Months After Hikes

Just 3 months ago in July, European Central Bank president hiked the Eurozone bank-to-bank rate to 4.25%, saying that inflation was causing fundamental changes in their economy. Now they’ve announced their second .5% cut in a month, proving that central bankers sometimes don’t even know what’s going on in these volatile times. They’ve long had

ECB Hikes Rates .25%, Says Inflation Causing Fundamental Changes

In an effort to fight inflation, the European Central Bank hiked their benchmark rates for the 15-country Euro zone by .25% today as expected, but implied that this is not the beginning of a campaign: “On the basis of our current assessment, the monetary policy stance following today’s decision will contribute to achieving our objective.”