The European Central Bank raised interest rates on Thursday by 25 basis points, setting them at 2.50%. This decision represents another step in the monetary tightening cycle implemented by the ECB.
With this increase, mortgage payments and the cost of all loans taken out by households and businesses rise. The impact is felt across all types of credit, from mortgages to business loans.
The measure comes in response to the energy shock that is driving up inflation in the eurozone. The ECB has been using monetary policy to try to control the widespread rise in prices.
