ECB may increase interest rates this week

It is expected that the European Central Bank will raise interest rates by 25 basis points during its meeting this week, as part of an effort to control inflation, which is rising due to the war in Iran. This marks the first monetary tightening by a major central bank within the G7. Markets also anticipate at least one more hike before the end of the year. Meanwhile, the Bank of Canada, the U.S. Federal Reserve, and the Bank of England are expected to maintain their current interest rates. The European Bank aims to curb the entrenchment of inflation despite the slowing economic growth resulting from the war.

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