ECB raises deposit rate to 2.50% amid inflation fears
The European Central Bank raised interest rates on Thursday, prompted by fears of an inflation shock as energy prices surge amid the escalation of the Iran war. The ECB Governing Council hiked the benchmark deposit rate to 2.50%, as expected.
The European Central Bank increased interest rates on Thursday, as expected, citing concern over an inflation shock as energy prices surged amid the recent escalation of the Iran war. The ECB Governing Council, led by President Christine Lagarde, made the move, with the benchmark rate adjusted as indicated in the source section.