True to our commitment to being the bridge between people and the European Central Bank (ECB), ahead of the last monetary dialogue in June we collaborated with our friends at SumOfUs to collect our supporters’ views, expectations and concerns related to the ECB’s work. The results showed overwhelming support for ambitious and proactive environmental actions by the ECB. They also rang a bell about the need for clearer communication from the Central Bank on the effects of its interest rate hikes.
The European Central Bank hikes interest rates after over a decade. Is this the right move for people?
On July 21st, the European Central Bank (ECB) announced that it is raising interest rates by 0.5 per cent, opting for an even higher hike than what was announced in June. Over the past few months, Positive Money Europe has repeatedly warned that higher interest rates are simply not the right solution to current price increases, as they will negatively affect people and jeopardise the well-being of our economies and the future of the post-pandemic green recovery. Why do we think so? In this blog, we answer a few questions about the impact that rising interest rates will have on people’s daily lives.