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Latest developments on interest rates, in 2007 Euro area central bank rates have been increasing for 22 months, reaching highest level since August 2001
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The European Central Bank last increased key interest rates in June 2007 to its highest level since August 2001;
• The June increase was only one of eight in 22 months after 30 months of record low rates;
• The level of central bank rates decreased between 2000 and 2006 for almost all non euro area Member States;
• Money market rates in the euro area have been rising for 24 consecutive months;
• The gap between euro area and non-euro area countries' money market rates has been considerably reduced over the last seven years and nine months;
• The September 2007 figures revealed that the gap between the EU average and the euro area countries long term interest rates has fallen since 2005.
• The decrease in the standard deviation of retail interest rates demonstrates progress towards an integrated financial market in the EU.
Peter PARLASCA - Personal Name
1977-0316
NONE
Economics
English
2007
1-12
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