ECB Raises Interest Rates by Historic 0.75 Point as Europe Stares at Recession

FRANKFURT – The European Central Bank has hiked interest rates by the largest amount since the inception of European monetary union, aggressively cracking down on record inflation even as an energy crisis pushes Europe to the brink of recession.

The bank announced in a statement that it would raise its key interest rate to 0.75% from zero – the second hike this year after a 50 basis point hike in July – and signaled that further hikes were likely in the coming months.

https://www.wsj.com/articles/ecb-raises-interest-rates-by-a-historic-0-75-point-as-europe-stares-at-recession-11662639573 ECB Raises Interest Rates by Historic 0.75 Point as Europe Stares at Recession

Alley Einstein

Alley Einstein is a USTimesPost U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. Alley Einstein joined USTimesPost in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing Alley@ustimespost.com.

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