ECB Expected to Raise Interest Rates Again

The European Central Bank (ECB) is poised to raise interest rates for the second time since the start of the Iran war. According to a Bloomberg poll, all but one analyst expects the deposit rate to be lifted by a quarter-point to 2.5% on Thursday.

Bloomberg's Oliver Crook reports from Berlin that this move will increase borrowing costs for lenders and consumers alike. The ECB has been monitoring inflation closely and is expected to take further action to control it.