# ECB hikes rates, promises another 50 bps more in March

> The European Central Bank raised its key rate by 50 basis points, the third consecutive hike of that size, bringing the total increase to 3 percentage points in seven months. The bank signaled at least one more half-point hike at its next meeting to curb entrenched inflation.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/37535-ecb-hikes-rates-promises-another-50-bps-more-in-march
- 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-area monetary policy tends to strengthen the euro and cool demand, which can weigh on dollar-denominated commodity prices and eurozone demand for feed inputs.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2023-02-02 | [ECB raises rates, signals at least one more hike](https://feedsoft.ai/events/37538-ecb-raises-rates-signals-at-least-one-more-hike.md) | -1.7% | -2.9% |
| EURUSD | 2022-12-15 | [ECB raises interest rates by 0.5%, signals more to come](https://feedsoft.ai/events/38439-ecb-raises-interest-rates-by-0-5-signals-more-to-come.md) | -0.5% | +1.5% |
| EURUSD | 2023-06-15 | [ECB in no mood to pause after lifting rates to 22-year high](https://feedsoft.ai/events/35699-ecb-in-no-mood-to-pause-after-lifting-rates-to-22-year-high.md) | +0.9% | +3.5% |
| 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% |
| EURUSD | 2026-07-30 | [Euro Rises on Strong Eurozone Data and ECB Rate Hike Bets](https://feedsoft.ai/events/7685-euro-rises-on-strong-eurozone-data-and-ecb-rate-hike-bets.md) | +1.4% | +2.3% |
| DXY | 2023-03-22 | [Dollar falls after Fed raises rates, indicates one more hike ahead](https://feedsoft.ai/events/36777-dollar-falls-after-fed-raises-rates-indicates-one-more-hike-ahead.md) | -1.0% | -1.5% |
| 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 | 2022-05-23 | [Dollar Vs. Euro: Greenback Hits One-Month Low As ECB Eyes Rate Hikes - Markets Insider](https://feedsoft.ai/events/41613-dollar-vs-euro-greenback-hits-one-month-low-as-ecb-eyes-rate-hikes-markets.md) | -0.9% | +1.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/rates-bonds/ecb-hikes-rates-promises-another-50-bps-more-march-2023-02-02/

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