European Central Bank raises rates for 9th time, a 23-year high. Business credit conditions in the EU at 2008 levels

The European Central Bank just raised rates for the 9th consecutive time

Inflation in Europe is still 5.5%

Rates are now at a 23-year high in Europe: pic.twitter.com/YSpUeBSw1H

— Genevieve Roch-Decter, CFA (@GRDecter) July 27, 2023

Business credit conditions in the EU at 2008 levels ⚠️ pic.twitter.com/uH6x9eiT1E

— Longview Economics (@Lvieweconomics) July 27, 2023

Home lending in the EU reaches the slowest pace in over 8 years.. pic.twitter.com/9goNDTHFtH

— Longview Economics (@Lvieweconomics) July 27, 2023

German consumers less pessimistic than at the nadir last November. Still at historic lows for Europe's engine. pic.twitter.com/uGi9lqqazM

— Longview Economics (@Lvieweconomics) July 27, 2023

Bank shares like Deutsche Bank drop following ECB decision to no longer pay interest on the minimum reserves. pic.twitter.com/ltK8uBUqS9

— Holger Zschaepitz (@Schuldensuehner) July 27, 2023