Watch Christine Lagarde speak after the ECB surprises markets with larger rate hike
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European Central Bank President Christine Lagarde is giving a press conference after the bank’s latest monetary policy decision.
The ECB, the central bank of the 19 nations that share the euro currency, pushed benchmark rates up by 50 basis points, bringing its deposit rate to 0%.
The Frankfurt institution had kept rates at historic lows, in negative territory since 2014, as it dealt with the region’s sovereign debt crisis and the coronavirus pandemic.
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This article was originally published by Cnbc.com. Read the original article here.