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…

The European Central Bank’s decision on Thursday to raise interest rates by 25 basis points came as little surprise to financial markets. Most economists had already expected such…

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