The European Central Bank raised its benchmark interest rate by a quarter point to 2.25 percent, marking its first hike since 2023. This move aims to combat accelerating inflation, driven by the Middle East war's energy shock, despite concerns for the struggling eurozone economy. The ECB also lowered its growth projection for the year.

The European Central Bank is widely expected to raise interest rates for the first time since 2023 as policymakers respond to rising inflation fuelled by higher energy prices…

European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, Sept. 11,…

ECB is first big central bank to hike rates since Iran war