Quick Take
The ECB raised the deposit facility rate by 50 bps to 3%.
Before the collapse of SVB and the fallout of Credit Suisse, markets were expecting a 50bps rate hike from the ECB; however, moments before the decision, markets saw a 35% probability of a 50bps hike.
ECB Deposit Rate: (Source: Fred)Currencies: (Source: Trading View)
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