![At 50 basis points, ECB's rate hike higher than expected](https://cdn.magzter.com/1547192204/1658441395/articles/vb4tf8VF31658445141328/AT-50-BASIS-POINTS-ECBS-RATE-HIKE-HIGHER-THAN-EXPECTED.jpg)
The euro, government bonds yields and bank shares in the single currency bloc rose on Thursday after the European Central Bank delivered a big 50 basis point rate hike to tame inflation in its first rate increase since 2011.
The ECB raised its benchmark deposit rate to zero percent, breaking its own guidance for a 25 basis point move as it joined global peers in jacking up borrowing costs and ending an eight-year experiment with negative interest rates.
The euro climbed to $1.0268, about 0.7 per cent higher than the $1.0198 it was trading at ahead of the ECB's statement.
By 1312 GMT it had given u most of those gains.
Benchmark 10year euro area government bond yields were broadly higher, with Germany's 10year Bund yield up 10 basis points on the day at 1.36 per cent.
Diese Geschichte stammt aus der July 22, 2022-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der July 22, 2022-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Investing for children: Buy house or opt for MFs?
I was speaking to Meera and her spouse, Karan, about their financial plan.
![Failure to report foreign income leads to loss of DTAA benefit](https://reseuro.magzter.com/100x125/articles/18959/1735120/QRyzIUTCJEbqf3vBve6sys/FAILURE-TO-REPORT-FOREIGN-INCOME-LEADS-TO-LOSS-OF-DTAA-BENEFIT.jpg)
Failure to report foreign income leads to loss of DTAA benefit
Not reporting foreign assets and income may also result in penalty and even jail sentence
![Sparks fly after Musk's EVM post, Chandrasekhar offers 'tutorial'](https://reseuro.magzter.com/100x125/articles/18959/1735120/065xSQ7mFfKay1ILnV9sys/SPARKS-FLY-AFTER-MUSKS-EVM-POST-CHANDRASEKHAR-OFFERS-TUTORIAL.jpg)
Sparks fly after Musk's EVM post, Chandrasekhar offers 'tutorial'
Tesla and SpaceX Chief Executive Officer (CEO) Elon Musk has said that electronic voting machines (EVMs) should be eliminated as they are prone to \"getting hacked\" by humans or AI (artificial intelligence).
![Fresher hiring in IT sector tumbles to 2-decade low](https://reseuro.magzter.com/100x125/articles/18959/1735120/QtDCFvaEKAWRELlFS3Jsys/FRESHER-HIRING-IN-IT-SECTOR-TUMBLES-TO-2DECADE-LOW.jpg)
Fresher hiring in IT sector tumbles to 2-decade low
India's software services companies have hired between 60,000 and 70,000 freshers in FY24, the lowest intake in two decades, according to HR firm Xpheno.
DAUGHTERS INC
The unfolding succession at several Indian family businesses is shining the spotlight on daughters
![Is Nabfid the answer to India's infra woes?](https://reseuro.magzter.com/100x125/articles/18959/1735120/wbRVoDe4nI0Se5lQY4zsys/IS-NABFID-THE-ANSWER-TO-INDIAS-INFRA-WOES.jpg)
Is Nabfid the answer to India's infra woes?
Though earlier such attempts had failed, Nabfid should succeed as the ecosystem is changing
![Fintech's time and tide for turning](https://reseuro.magzter.com/100x125/articles/18959/1735120/XVY38ZzVvXpATl3ckCLsys/FINTECHS-TIME-AND-TIDE-FOR-TURNING.jpg)
Fintech's time and tide for turning
A self-regulatory framework will reshape how the sector does business but it must find people who will helm the system
![Seven things digital lenders must do to manage risks](https://reseuro.magzter.com/100x125/articles/18959/1735120/5Bt0wlJ7ISrzGufiag8sys/SEVEN-THINGS-DIGITAL-LENDERS-MUST-DO-TO-MANAGE-RISKS.jpg)
Seven things digital lenders must do to manage risks
Every adversity brings with it the seed of an equivalent advantage, said Napoleon Hill in his bestselling book Think and Grow Rich.
![Macrotech and Oberoi Realty elevate Mumbai skyline with highrise sales](https://reseuro.magzter.com/100x125/articles/18959/1735120/OIU89YrfK1M8rArEpSJsys/MACROTECH-AND-OBEROI-REALTY-ELEVATE-MUMBAI-SKYLINE-WITH-HIGHRISE-SALES.jpg)
Macrotech and Oberoi Realty elevate Mumbai skyline with highrise sales
ARCHITECTS OF MARKET DOMINANCE: Leading largecap realty stocks with 29% to 33% gains in recent surge
Unveiling a champion: How this fund beats the rest
HDFC Flexi Cap Fund, launched in January 1995, has consistently ranked in the top 30th percentile of the flexicap fund category in the CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters through March 2024.