WAM
11 Jun 2026, 19:07 GMT+10
BRUSSELS, 11th June, 2026 (WAM) -- The European Central Bank (ECB) has raised interest rates for the first time since 2023, in a move aimed at containing mounting inflationary pressures linked to global developments.
The ECB decided to increase its deposit rate from 2 percent to 2.25 percent, while financial markets are anticipating two additional rate hikes by spring next year.
The decision comes after eurozone inflation rose to 3.2 percent in May 2026, compared with 3 percent in April, reflecting the impact of higher energy prices and the continued rise of oil prices above US$90 per barrel.
The move is widely seen as a pre-emptive effort to curb inflation, particularly following criticism that the ECB was slow to tighten monetary policy during the Ukraine crisis in 2022.
Get a daily dose of Yorkshire Observer news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Yorkshire Observer.
More InformationRabat (Morocco) [India], June 11 (ANI): Morocco have made two changes to their FIFA World Cup squad after key players Nayef Aguerd...
The president's call comes in response to the depletion of American weapons stockpiles amid the US-Israeli war on Iran ...
John Healey has said the prime minister is failing to secure sufficient funding to meet NATO obligations British Secretary of Defense...
The blocs foreign service is reportedly seen as dysfunctional under its current chief EU member states could curtail the powers of...
Bradford [UK], June 11 (ANI): The chairman of the Jammu Kashmir National Independence Alliance (JKNIA), Mahmood Kashmiri, has strongly...
Madrid [Spain], June 11 (ANI): Spain winger Lamine Yamal has been appointed as a UNICEF Goodwill Ambassador, becoming one of the youngest...
New Delhi [India], June 11 (ANI): The wait is over. The biggest sporting event returns tonight (June 12) as per Indian Standard Time...
The president's call comes in response to the depletion of American weapons stockpiles amid the US-Israeli war on Iran ...
Madrid [Spain], June 11 (ANI): Spain winger Lamine Yamal has been appointed as a UNICEF Goodwill Ambassador, becoming one of the youngest...
Guadalajara [Mexico], June 11 (ANI): South Korea captain Son Heung-Min said he still feels like 'a young boy again' whenever he steps...
Scandal-plagued Graham Platner will face Republican Susan Collins in Novembers Senate election US Marine veteran Graham Platner,...
Scandal-plagued Graham Platner will face Republican Susan Collins in Novembers Senate election US Marine veteran Graham Platner,...
