ECB Continues Interest Rate Hikes to Combat Inflation
TL;DR Summary
The European Central Bank (ECB) has raised interest rates by 25 basis points to 3.25%, in line with market and analyst expectations, and signalled that more tightening would be needed to tame inflation. This was the seventh straight hike, but so far the smallest move. ECB President Christine Lagarde said there were still big upside risks to inflation, notably from recent wage deals and high corporate profit margins, and that financial conditions were still not sufficiently tight.
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