ECB raises interest rates to fight off inflation jump
The European Central Bank raised interest rates for the second time this year. The move is aimed at taming an inflation rise driven by higher energy costs linked to the Iran war, with oil and natural gas prices pushing inflation well past 3% across the 21-country euro zone.
The European Central Bank raised interest rates for the second time this year in a widely flagged move on Thursday, aiming to curb an inflation rise driven by higher energy costs from the Iran war. Surging oil and natural gas prices pushed inflation well past 3% across the 21-country euro zone.