The ECB Raises Rates Another 25 Basis Points, and a Long Pause Now Seems Likely

Accordingly, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 4.50%, 4.75% and 4.00% respectively.

The ECB hasn't officially closed the door on further interest rate hikes. However, it is well understood that no more hikes will be needed if the economy slows as expected, or more quickly, in the coming months.