An interest rate hike by Central Bank on rising inflation in Europe

 An interest rate hike by Central Bank on rising inflation in Europe

An interest rate hike by Central Bank on rising inflation in Europe

Web Desk

In view of rising inflation in Europe, the European Central Bank increased the interest rate by another 75 basis points.

Earlier in June too, it was increased by 25 basis points. Thus, a total of 100 basis points have been added so far this year.

According to the European Central Bank, the latest monetary decisions were taken at its Governing Council meeting today. In the meeting, it was decided to increase the interest rate by 0.75%.

The decision is an important step to ensure that inflation in Europe stays within the 2 percent target.

It was also agreed in the meeting that further steps can be taken to control the inflation situation.

You have to wait 35 seconds.