Europe's Central Bank hikes interest rates after nearly 3 years amid Iran War energy shock
The European Central Bank has raised interest rates for the first time in nearly three years, citing growing inflation risks linked to the ongoing Iran conflict and rising energy costs. The ECB increased its benchmark deposit rate to 2.25%, even as economic growth across the eurozone remains weak. ECB President Christine Lagarde said the Middle East conflict is generating inflationary pressures.
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