Energy-Fueled Inflation Prompts First Euro Rate Hike In Decade ...Middle East

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Energy-Fueled Inflation Prompts First Euro Rate Hike In Decade
source : OILPRICE ( Middle East ) () 30
Booming inflation caused by runaway energy prices has prompted the European Central Bank to consider the first interest rate hike in the eurozone in 11 years. "High inflation is a major challenge for all of us," the president of the ECB, Christine Lagarde, said after a meeting of the bank's governing council, as quoted by Euronews. The rate hike will be 0.25 percent, to be effected in July. If inflationary pressures persist, the ECB will implement another 0.25-percent hike in September. Eurozone inflation hit an all-time high last month, reaching…

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