The European Central Bank on Thursday delivered a widely expected rate hike, saying inflation remains too high.
The European Central Bank on Thursday delivered a widely expected increase in interest rates, citing inflation that continues to run too hot while saying future moves will depend on incoming economic data.
“Inflation... The European Central Bank on Thursday delivered a widely expected increase in interest rates, citing inflation that continues to run too hot while saying future moves will depend on incoming economic data. “Inflation continues to decline but is still expected to remain too high for too long,” the ECB said in a statement. “The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner.”
Much like the Federal Reserve, which delivered a quarter-point rate rise on Wednesday, the ECB emphasized that future moves would depend on incoming data.
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