Euro Zone Deposit Facility Rate For September 4% Vs. 3.75% Est.; 3.75% Prior
Portfolio Pulse from Benzinga Newsdesk
The Euro Zone Deposit Facility Rate for September has been set at 4%, higher than the estimated 3.75% and the prior rate of 3.75%.
September 14, 2023 | 12:15 pm
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The increase in the Euro Zone Deposit Facility Rate may impact VGK, an ETF that tracks European stocks.
The increase in the Euro Zone Deposit Facility Rate means that banks will have to pay more to deposit funds, which could lead to a decrease in lending. This could potentially slow down economic growth in the Euro Zone, which could negatively impact European stocks and, by extension, VGK.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80