Money Minute Thursday 23 January: European interest rates
In today's Money Minute we look ahead to Christine Lagarde's second interest-rate-setting meeting at the European Central Bank.
The European Central Bank makes its first decision on interest rates for this year this afternoon. Inflation in the eurozone remains well below the target of near-2%, so eurozone interest rates are almost certain to remain where they are, at negative 0.5%. The ECB will also continue to print money via quantitative easing.
However, while no surprises are expected, investors will be paying particularly close attention as new boss Christine Lagarde continues to settle in. This is her second rate-setting meeting and investors will be looking for any hints as to how the ECB’s year-long strategic review might pan out.
Later in the afternoon, we’ll get the latest reading on consumer confidence across the region. Broadly speaking, consumers are hardly over the moon. But nor are they so gloomy that the data suggests a recession is imminent.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Elsewhere, the Norwegian central bank is also due to report its latest interest rate decision. The key interest rate is expected to remain at 1.5%.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Nvidia's earnings live: China trade the key question for semiconductor giant’s results
All eyes are on Nvidia’s earnings release this week, as analysts question whether Blackwell sales can make up for lost China revenue following Trump’s trade crackdown
-
8 of the best lakeside properties for sale
The best lakeside properties – from a house on the southeastern shore of Loch Lomond, to a 15th-century hall overlooking a lake in King’s Lynn, Norfolk
-
Trapped in a time of zombie government
It’s not just companies that are eking out an existence, says Max King. The state is in the twilight zone too.
-
America is in deep denial over debt
The downgrade in America’s credit rating was much criticised by the US government, says Alex Rankine. But was it a long time coming?
-
Bank of England raises interest rates to 5.25%
The Bank has hiked rates from 5% to 5.25%, marking the 14th increase in a row. We explain what it means for savers and homeowners - and whether more rate rises are on the horizon
-
UK inflation remains at 8.7% ‒ what it means for your money
Inflation was unmoved at 8.7% in the 12 months to May. What does this ‘sticky’ rate of inflation mean for your money?
-
VICE bankruptcy: how did it happen?
Was the VICE bankruptcy inevitable? We look into how the once multibillion-dollar came crashing down.
-
Would a food price cap actually work?
Analysis The government is discussing plans to cap the prices of essentials. But could this intervention do more harm than good?
-
UK inflation slides to 8.7% - what does it mean for your money?
News Inflation has dropped below 10% for the first time in months, but with food prices at a 45-year high, is this good news and what does it mean for your money?
-
Why the UK equity market is shrinking
Analysis The crisis has been building for 25 years, says Max King, and it will take decades to reverse the trend.