European Central Bank raises rates by 75 basis points to tackle soaring inflation

European Central Bank sets record rate hike to fight energy price shock

By Mark Thompson, CNN BusinessThe European Central Bank hiked interest rates by a record three-quarters of a percentage point on Thursday and promised more to come as it scrambles to contain the inflationary fallout from Russia’s invasion of Ukraine and the ensuing energy crisis.The move will take the benchmark rate for the 19 countries using the euro to 0.75%. It follows the central bank’s first hike since 2011 in July, when rates were increase…

European Central Bank makes largest-ever interest rate hike

FRANKFURT, Germany — The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out record inflation that is squeezing consumers and pushing Europe toward recession.The bank’s 25-member governing council raised its key benchmarks by an unprecedented three-quarters of a percentage point for the 19 countries that…

European Central Bank makes largest-ever interest rate hike

The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks.

European Central Bank hikes interest rates 75 basis points, signals more to come - National

The European Central Bank mirrored the Bank of Canada on Thursday with a 75-basis-point interest rate hike as inflation persists globally.

ECB raises interest rates by 75 basis points

ECB raises interest rates by 75 basis points

Governing Council raised interest rates by 0.75 percentage points

The Council of the European Central Bank raised major interest rates in the euro area for the second time in a row. It raised them by a record 0.75 percentage points after July's rise of 0.5 percentage points. It also announces further withdrawals ahead and ECB President Christine Lagarde wants decisive steps, as the level of interest rates is far from adequate.