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The European Central Bank increased the deposit rate to 2.5% in its Thursday policy decision. eToro analyst Lale Akoner said the move protects against energy prices extending into wages and services prices.
The ECB raised its key deposit rate by 25 basis points on Thursday to 2.50%. The decision cited rising inflationary pressures linked to the Middle East war and disruptions to commodity shipments through the Strait of Hormuz, alongside volatile oil price pressures.