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المصري اليوم
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ECB raises rates amid Eurozone inflation
The European Central Bank raised interest rates to 2.5%, an increase of a quarter of a percentage point, in a decision reflecting rising inflation in the Eurozone due to the energy shock caused by the Iranian war. This followed an inflation rise to 3.3% in August, driven by higher energy prices, which reached 14.3% as oil supplies were tightened and Brent crude oil prices exceeded $100 per barrel. Meanwhile, core inflation declined to 2.4%, and inflation in services dropped to 3%. The decision aims to curb inflation, which remains above the target, with a focus on the impacts of the energy shock and the economic resilience of the region's countries. Inflation is also expected to rise in 2027 and 2028 to approximately 2.5% and 2.1%.
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