BANKING AFFAIRS

Detailed explanation-1: -Interest Rate in Euro Area averaged 1.70 percent from 1998 until 2023, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0.00 percent in March of 2016. The benchmark interest rate in Germany is set by the European Central Bank. European Central Bank.

Detailed explanation-2: -Interest rates are determined, in large part, by central banks who actively commit to maintaining a target interest rate. They do so by intervening directly in the open market through open market operations (OMO), buying or selling Treasury securities to influence short-term rates.

Detailed explanation-3: -The Governing Council of European Central Bank sets interest rates for the euro area.

Detailed explanation-4: -The ECB key interest rate forecast for 2023 The markets are currently banking on a key interest rate of 3.5 percent by the middle of the year.

Detailed explanation-5: -The Governing Council is the main decision-making body of the ECB. It consists of the six members of the Executive Board, plus the governors of the national central banks of the euro area countries.