The European Central Bank increased its interest rate by 25 basis points to 2.25%, its first hike since 2023, aiming to tackle inflation fueled by the Middle East energy crisis.

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 ECB is expected to raise its deposit rate by 25 basis points to 2.25% on June 11, the first hike since 2023, as eurozone inflation tops 3%.

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