The European Central Bank has delivered its first interest rate hike since 2023, pushing its benchmark rate to 2.25% as surging energy costs tied to the escalating Iran war drive up inflation and batter economic stability across the euro zone.
The move underscores Europe’s growing anxiety over the volatile energy markets that are once again testing the continent’s post-pandemic recovery.
The quarter-point rate hike, announced after the ECB’s June Governing Council meeting, had been anticipated by markets, with analysts pricing ...
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