ECB Raises Interest Rate On Benchmark Refinancing Rate From 4.25% To 4.5%
Portfolio Pulse from Benzinga Newsdesk
The European Central Bank (ECB) has increased the interest rate on its benchmark refinancing rate from 4.25% to 4.5%.
September 14, 2023 | 12:17 pm
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The ECB's decision to raise the interest rate may impact the Vanguard FTSE Europe ETF (VGK), as it could affect the European economy and, consequently, European stocks.
The ECB's decision to raise the interest rate could lead to a slowdown in the European economy as borrowing costs increase. This could negatively impact European stocks, including those in the VGK ETF. Therefore, the ETF's price may potentially decrease in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75