# European Central Bank raises rates by 25 basis points at June 2023 meeting

> The ECB raised its main rate by 25 basis points to 3.5%, its highest in 22 years, while the Fed had paused the same week. The ECB raised its inflation forecasts, with 2023 headline inflation now projected at 5.4%.

- Date: 2023-06-15 · published 2023-06-15T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/35702-european-central-bank-raises-rates-by-25-basis-points-at-june-2023-meeting
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Tighter euro-zone policy and a firmer euro can reduce the dollar cost of commodity imports for Europe while weighing on demand expectations. The direct impact on feed grain prices is small.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-01-25 | [European Central Bank holds rates steady, gives no hint at cuts ahead](https://feedsoft.ai/events/32341-european-central-bank-holds-rates-steady-gives-no-hint-at-cuts-ahead.md) | -0.4% | -0.8% |
| EURUSD | 2026-04-30 | [European Central Bank keeps rates on hold as inflation jumps](https://feedsoft.ai/events/19941-european-central-bank-keeps-rates-on-hold-as-inflation-jumps.md) | +0.5% | -0.4% |
| EURUSD | 2022-06-09 | [European Central Bank confirms July rate hike plans, raises inflation projections](https://feedsoft.ai/events/41163-european-central-bank-confirms-july-rate-hike-plans-raises-inflation-projections.md) | -3.3% | -5.2% |
| EURUSD | 2022-12-15 | [European Central Bank slows rate hikes but vows more ahead \| AP News](https://feedsoft.ai/events/38437-european-central-bank-slows-rate-hikes-but-vows-more-ahead-ap-news.md) | -0.5% | +1.5% |
| EURUSD | 2023-06-15 | [European Central Bank hikes rates again and vows more after US Fed hits pause \| AP News](https://feedsoft.ai/events/35700-european-central-bank-hikes-rates-again-and-vows-more-after-us-fed-hits-pause.md) | +0.9% | +3.5% |
| DXY | 2023-06-15 | [European Central Bank hikes rates again and vows more after US Fed hits pause \| AP News](https://feedsoft.ai/events/35700-european-central-bank-hikes-rates-again-and-vows-more-after-us-fed-hits-pause.md) | -0.0% | -1.5% |
| DXY | 2025-12-10 | [Fed Meeting Today: Central Bankers Can't 'Do Two Things At Once,' Powell Said](https://feedsoft.ai/events/21403-fed-meeting-today-central-bankers-can-t-do-two-things-at-once-powell-said.md) | -0.7% | -0.5% |
| DXY | 2022-07-21 | [Europe's central bank backs larger-than-expected rate hike \| AP News](https://feedsoft.ai/events/40711-europe-s-central-bank-backs-larger-than-expected-rate-hike-ap-news.md) | +0.2% | -0.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/06/15/european-central-bank-raises-rates-by-25-basis-points-at-june-2023-meeting.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.