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ECB raises interest rate to tackle inflation surge
Key takeaways
- The European Central Bank has been moving to rein in inflation after a long pause on rate changes.
- The move, which risks placing further strain on the eurozone's weak economy, highlights mounting concern over rising prices.
- Policymakers in Frankfurt lifted the benchmark deposit rate by 0.25 percentage points to 2.25%, ending a long pause after seven consecutive holds at 2.0%.
Why this matters: an international story with cross-border implications worth tracking.
The European Central Bank has been moving to rein in inflation after a long pause on rate changes. The policy shift is aimed at tamping down prices while raising fresh concerns about growth.
https://p.dw.com/p/5FCdi The Frankfurt-based bank was outlining its response to the economic fallout from the conflict in Iran Image: Kirill Kudryavtsev/AFPAdvertisement The European Central Bank has raised interest rates for the first time in nearly three years to counter inflation linked to the Iran war.
The move, which risks placing further strain on the eurozone's weak economy, highlights mounting concern over rising prices.
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