ECB Hikes Interest Rates Amid Ongoing Geopolitical Tensions

The European Central Bank (ECB) has increased its interest rates for the second time this year, in response to inflation driven by energy prices due to ongoing geopolitical tensions.

ECB President Christine Lagarde stated that 'Markets do what they have to do, and we do what we have to do - which is to provide price stability.'

The ECB anticipates inflation to remain above its target until 2028, partly due to resilient economic activity.