The European Central Bank has raised interest rates for the first time in nearly three years, citing growing inflation risks linked to the ongoing Iran conflict and rising energy costs. The ECB increased its benchmark deposit rate to 2.25%, even as economic growth across the eurozone remains weak. ECB President Christine Lagarde said the Middle East conflict is generating inflationary pressures.

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,…

The European Central Bank has lifted its deposit facility rate by 0.25% to 2.25%, marking a decisive pivot back to tightening as the Iran war pushes eurozone inflation to its…

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

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…