The European Central Bank (ECB) surprisingly called an extraordinary meeting of the Governing Council in view of the high inflation and unrest on the financial markets.
“The Governing Council will hold an ad hoc meeting on Wednesday to discuss current market conditions,” an ECB spokesman said on Wednesday morning.
At its meeting in Amsterdam last week, the ECB announced that it would raise interest rates by 0.25 percentage points at its next regular meeting on July 21; In September, “a larger rate hike may also be appropriate”. Net bond purchases under the APP bond purchase program are expected to end by the end of June.
