ECB to Double Rates - to 1.5%

The motivation is inflation that, at almost 10%, is five times the ECB’s medium-term target.

Alexander Weber Bloomberg 27 oktober 2022

https://www.bloomberg.com/news/articles/2022-10-27/ecb-to-double-rates-to-highest-in-over-a-decade-decision-guide

https://www.wsj.com/articles/ecb-raises-rates-by-0-75-point-to-highest-in-more-than-a-decade-11666873207

The euro has slumped against the dollar after the ECB vowed to keep printing money until 2024.

The central bank said it will continue its programme of quantitative easing “for an extended period time”. It also said its pandemic-era bond-buying programme will continue until at least the end of 2024.

Officials also toughened the terms on more than €2 trillion ($2 trillion) of ultra-cheap pandemic-era loans to banks known as TLTROs. 

The agreements had become problematic after the recent rapid rate hikes allowed lenders to park TLTRO cash in ECB accounts and earn a risk-free income.

Targeted long-term refinancing operation - TLTRO

https://englundmacro.blogspot.com/2022/07/ecb-erbjod-2200-miljarder-euro-i.html