The European Central Bank has raised interest rates by a quarter point, lifting its deposit rate to 2.5%, as the energy shock driven by the Iran war pushes eurozone inflation higher and forces a second hike in three months.

Economists expect the ECB to raise its policy rate to 2.50 per cent from 2.25 per cent. Read more at straitstimes.com. Read more at straitstimes.com.

The European Central Bank is widely expected to raise interest rates to 2.50% on Thursday as soaring energy prices amid the Iran war fuel fresh inflation concerns. With inflation…