European Central Bank Raises Interest Rates For First Time in 11 Years

Christine Lagard has experienced a wide variety of events through her three-year tenure at the European Central Bank (E.C.B.). However, she will be in new territory now, as this will be the first time in 11 years that the European Central Bank has raised interest rates. This is also the biggest rate hike in 22 years. The half-point rate hike dispels the near decade-long status-quo of negative interest rates in bank deposits of -0.5%. Depositors of the E.C.B. will now not lose money (in nominal terms) for putting their funds in a bank.