12 Hrs
Source:
The Guardian
ECB hikes rates to 2.5% as Iran war boosts inflation
The European Central Bank increased interest rates to 2.5% amid rising inflation risks linked to renewed Middle East conflict and surging oil and gas prices. Borrowing costs soared across Europe, with government bond yields reaching multi-year highs, while energy prices, including oil above $105 per barrel, sharply increased. Central banks expressed concern that high energy costs could further fuel inflation and slow economic growth.
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