ECB Rate Hike: Raises Interest Rates To 22 Year High

2023 • 10min • News • Business


Published On: June 16, 2023 - Continuing its streak, the European Central Bank (ECB) raised interest rates for the eighth time in a row and suggested the possibility of further measures to address the challenge of high inflation. Despite the decline in commodity prices, the job market remains tight, wages are growing rapidly, and persistent price pressures, particularly in the services sector, are evident. Consequently, some policymakers have proposed a rate hike in July, while others are keeping an open mind, considering the option for September.