ECB sticks to rate hike plan despite banking turmoil ...Middle East

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ECB sticks to rate hike plan despite banking turmoil
source : Devdiscourse ( Middle East ) () 35
The European Central Bank raised interest rates by 50 basis points on Thursday as promised to curb inflation, ignoring financial market chaos and calls by investors to dial back policy tightening at least until sentiment stabilises. The ECB has been raising rates at its fastest pace on record, but a rout in global markets since the collapse of Silicon Valley Bank (SVB) in the United States last week had threatened to upend those plans at the last moment.

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