ECB lifts interest rates by unprecedented 75 bps to fight inflation ...Qatar

The European Central Bank raised its key interest rates by an unprecedented 75 basis points yesterday and signalled further hikes, prioritising the fight against inflation even as the bloc’s economy is heading for a likely winter recession. With inflation at a half-century high and approaching double-digit territory, policymakers are worried that rapid price growth could become entrenched, eroding the value of household savings and setting off a wage-price spiral. Following up on its July rate hike, the ECB raised its deposit rate to 0.75% from zero and lifted its main refinancing rate to 1.25%, their highest levels since 2011, with further moves anticipated in October and December. “We hav

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