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ECB hikes rates again amid Iran conflict
The European Central Bank today raised interest rates for the second time since the start of Iran's war in February, aiming to combat inflation that has exceeded 3% in the Eurozone. It is expected to reach 3% this year and 2.5% in 2027 due to rising oil and gas prices resulting from the war. This comes amid increasing risks of escalating inflation and slowing economic growth, as forecasts for 2026 growth have been revised upward from 0.8% to 0.9%. The bank relies on data to make future decisions regarding interest rates, and considers the current rate of 2.5% to be the upper limit of the "neutral" range.
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