ECB rate increase from zero to 0.75%

08 September 2022

European Central Bank (ECB) raises deposit rate from zero to 0.75%

This is the biggest ever increase of the ECB's benchmark rate, and more hikes are factored in for the coming months as price pressures consistently exceed forecasts.

Following today’s rate increase, at this point in time, negative interest will not be charged in respect of credit balances held in EUR accounts in Trusted Novus Bank.