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What interest rate hikes mean for you, the economy and inflation

What are interest rates? How do they work? And what do higher rates mean for people, the economy and inflation?

Our host, Katie Ranger, puts these questions to expert Gabriel Glöckler on The ECB Podcast.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 23 July 2022 and recorded on 13 July 2022 and 22 July 2022.

In this episode
The basics: what are interest rates?

What interest rates are and why we need them to compensate for different risks.

How do interest rates work?

The role interest rates play in determining the everyday choices we make with our money and how the ECB’s decisions affect market interest rates.

Are rates the same across the whole euro area?

Why it’s important that our monetary policy decisions reach all parts of the euro area in a reasonably even manner.

How do higher rates affect people, the economy and inflation?

The concrete impact of higher rates on people’s daily lives and on economic activity, and how raising rates can help bring down inflation.

Raising rates in times of war and at the tail end of a pandemic

The challenges the current environment poses for interest rates and the role higher rates play in shaping people’s inflation expectations. The importance of signalling our commitment to normalising our monetary policy.

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