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Published 2 months ago

European Central Bank hikes rates to record level as inflation risks outweigh economic gloom

  • The European Central Bank (ECB) has raised interest rates to a record high of 4%, the 10th consecutive increase, due to concerns about persistently high inflation.
  • Despite the rate hike, the ECB indicated that it may be the last for now, as they believe the current rates will contribute to a timely return of inflation to their target of 2%.
  • The ECB expects inflation in the eurozone to decrease to around 2.9% next year and 2.2% in 2025.
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