ECB Hike Odds Rise as Eurozone Inflation Surpasses Expectations

The European Central Bank (ECB) is likely to raise interest rates in September after inflation data from the Eurozone came in higher than expected.

The HICP inflation rate rose to 3.3% year-over-year, exceeding expectations of a 3.3% increase and following a 2.9% reading in July.

This development strengthens the case for a September ECB hike, as it suggests that underlying inflationary pressures remain strong.