ECB hikes rates, promises another 50 bps more in March1 min read . Updated: 02 Feb 2023, 06:54 PM IST
- Fighting runaway inflation, the ECB has raised its key rate by an unprecedented 3 percentage points in just seven months, in the hope that higher borrowing costs will temper demand and prevent rapid price growth from getting entrenched
The European Central Bank raised interest rates for the fifth successive time on Thursday and signalled another half a percentage point increase for March, pressing ahead with policy tightening even as some global peers are slowing down.
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