At least once again there seems to be a broad consensus in the Governing Council to raise interest rates significantly this Thursday.

Next time it could all be much more controversial.

"Almost half of the members of the Governing Council of the ECB have already spoken out directly in favor of a rate hike of 0.75 percentage points, or they have at least shown sympathy for it," says Michael Schubert, ECB specialist at Commerzbank.

The central bank has already leaked out that it will be ECB chief economist Philip Lane who will propose a corresponding interest rate hike to the committee on Thursday.

"In this respect, I would describe an increase of 0.75 percentage points as quite probable," says Schubert.

Other economists and analysts seem to have a similar view:

Christian Siedenbiedel

Editor in Business.

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The building rates reacted in advance.

"They are now more than four times as high as at the beginning of the year," said Michael Neumann, CEO of the credit broker Dr.

Small.

The consumer platform Biallo now comes to 4.015 percent in its index for building loans with a term of ten years.

According to figures from the Smava internet platform, installment loans had already risen to 6.33 percent by August. With the interest rate increases, the portal expects a further increase to 7 percent on average in Germany in the coming months.

Interest rates on savings have not yet reached these heights.

However, the interest rate platforms Weltsparen and Zinspilot report that for the first time in a long time a bank is again offering significantly more than 1 percent for call money: the French My Money Bank is at 1,

“It will become more difficult to implement large rate hikes”

After the ECB October meeting now on Thursday, the next regular interest rate meeting of the Governing Council is on December 15th.

There is disagreement among economists as to whether the ECB will then dare to take another big interest rate step or whether it will lose courage again.

"It will become more difficult to implement large interest rate hikes when it is no longer clear that interest rates are in expansionary territory and the economy is in recession," says Karsten Junius, economist at Bank J. Safra Sarasin: "Therefore go I currently only expect interest rates to rise by 0.5 percentage points for December.” The investment bank Goldman Sachs has now lowered its interest rate forecast accordingly.

Inflation in the euro area has continued to rise recently, to a record 9.9 percent - while in the United States it has eased again for three months in a row, to 8.2 percent in September.

There are apparently several reasons for the different development on this side and on the other side of the Atlantic: The roots of inflation are different: In America, demand plays a greater role in inflation, in Germany the supply bottlenecks are driving inflation to a greater extent.

In addition, the impact of the Ukraine war on energy supply varies, the United States can rely more on its own sources of oil and gas.

However, the Frankfurt economics professor Volker Wieland believes it is at least possible