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ECB headquarters in Frankfurt am Main:

Photo: Daniel Roland / AFP

The European Central Bank (ECB) is continuing its interest rate hike in the fight against inflation with the tenth hike in a row. On Thursday, it raised key rates by a quarter of a percentage point, as it did in July. The key interest rate in the euro area thus rises to 4.5 percent.

The deposit rate that banks receive for parking surplus funds, which is the benchmark on the financial markets, will rise from 3.75 to 4.00 percent. This is the highest level since the start of monetary union in 1999.

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