Europe's central bank raises rates to fight inflation from Iran war, the Fed to decide next week

Europe's central bank raises rates to fight inflation, the Fed to decide next week

ECB raises benchmark rate to 2.25% as crude spikes to $92/barrel, marking the first major central bank tightening since Iran war pushed eurozone inflation to 3.2%. Rising rates increase capital costs, compress tech valuations, and constrain venture funding—reversing the loose-money era that fueled expansion.