According to Jinshi, the European Central Bank raised all three major interest rates by 50 basis points, in line with market expectations, indicating that the European Central Bank remains determined to fight inflation. The main refinancing rate of the European Central Bank in the euro area as of March 16 is 3.5%, expected to be 3.50%, and the previous value is 3.00%.

The European Central Bank said that it expects inflation to be 5.3% in 2023, compared with a previous forecast of 6.3%. GDP is expected to be 1.0% in 2023, compared with a previous forecast of 0.5%. The reinvestment of the emergency anti-epidemic bond purchase program (PEPP) will continue until at least the end of 2024. Inflation is expected to remain too high for too long. The European Central Bank did not hint at future interest rate trends in its statement.