The European Central Bank pledges to raise interest rates further to continue fighting inflation

The European Central Bank raised interest rates by 50 basis points after raising interest rates by 75 basis points in both previous ECB meetings and Lagarde pledged more rate hikes. ECB President Christine Lagarde said that "based on the information we have today that points to another 50 basis point hike at our next meeting, maybe at the next meeting, maybe after."

The European Central Bank's new projections showed that inflation will be higher than the European Central Bank's target of 2% until 2025, and Lagarde indicated that inflation may remain higher than that, citing the possibility of a stronger-than-expected bout of wage growth and increased demand from government support measures across the countries of the region. euro.