Interest rate hikes in the euro area are already causing a decline in housing investment, the zone’s central bank revealed in a study. While smaller than in the United States, the impact of the monetary policy tightening on the Old Continent is likely to grow further, the regulator expects.
Housing Investment in Europe Declining Amid ECB’s Rate Increases
The series of rate hikes announced by the European Central Bank (ECB) is already depressing housing spending across the eurozone, the monetary authority has established in a study, the results of which were published on its website on Wednesday.
The findings come after in early May the ECB raised its key interest rates by 25 basis points (bps), slowing the pace from previous increases. The bank has raised them by a total of 375 bps since last July, Reuters noted in a report.
The impact of the rate hikes on home purchases in Europe is likely to increase in the future, although it will remain smaller than that in the United States, a
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