The ECB’s Governing Council meeting for September saw the central bank raise its key interest rates by 25bps. The deposit and refi rates were increased to 2.50% and 2.65%, respectively. This was very much in line with expectations and was fully priced-in. It marks the second 25bps rate hike from the ECB this year. It previously increased rates by 25bps at its June meeting and then kept rates unchanged in July.
