Brussels: The European Central Bank raised interest rates yet again as part of its inflation-control measures. The bank raised the interest rate by 0.25%, implying that more stringent measures may be implemented.
According to reports, the demand for loans has dropped the most in a decade. That is why it is assumed that the rate increase has been slight compared to the previous one. Interest rates have been raised in order to control inflation since last July.
ECB President Christine Lagarde clarified that this would not be the final step. The risks of inflation still remain. Recent wage agreements and large corporate dividends necessitate regulatory action.
The US Federal Reserve raised its key interest rate from 5% to 5.25%. This was followed by the action of the ECB.
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