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ECB delivers half-point hike but offers little on next move

The European Central Bank went ahead with a planned half-point increase in interest rates but offered few clues on what may follow amid market turmoil that roiled Credit Suisse Group AG.
European Central Bank (ECB) President Christine Lagarde speaks during a news conference following the ECBs monetary policy meeting in Frankfurt, Germany March 16, 2023. | Photo: Heiko Becker/Reuters/Ritzau Scanpix
European Central Bank (ECB) President Christine Lagarde speaks during a news conference following the ECBs monetary policy meeting in Frankfurt, Germany March 16, 2023. | Photo: Heiko Becker/Reuters/Ritzau Scanpix
By Alexander Weber and Jana Randow / Bloombereg

The deposit rate was lifted to 3% on Thursday — as officials have been flagging since their last meeting six weeks ago and as the majority of economists anticipated, but dropped language from its statement indicating where borrowing costs are headed.

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