ECB hikes interest rates for first time in 11 years

ECB hikes interest rates for first time in 11 years

ECB hikes interest rates for first time in 11 years

The European Central Bank (ECB) made the significant announcement today that it would be increasing its benchmark interest rate for the first time in more than a decade. The bank's governing council unanimously agreed to raise the key interest rate by 25 basis points, marking a pivotal shift in monetary policy that could have far-reaching implications for the Eurozone economy. Background Since the global financial crisis of 2008, the ECB, like many other central banks worldwide, has maintained ultra-low interest rates to stimulate economic growth. This prolonged period of low interest rates, while aiding in economic recovery, has been a…
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