The European Central Bank raised interest rates again, increasing them by 25 basis points, which brought the benchmark rate to 2.5%. This was the second time this year that the ECB decided to implement an interest rate hike.
The decision to raise interest rates comes in a context where inflation in the eurozone accelerated significantly, reaching 3.3%. This figure represents a sharp increase compared to the previous levels that had been recorded.
According to the article, the main driver of this acceleration of inflation in the eurozone was the rise in energy prices. This increase in energy costs has been exerting pressure on overall prices in the region.
