ECB Hikes Rates Again Amid Iran War-Driven Inflation

The European Central Bank (ECB) has raised its three key interest rates by 0.25 percentage points each, citing continued inflationary pressures driven by the war in Iran.

The ECB's Governing Council meeting in Berlin on Thursday resulted in a decision to raise the deposit rate to 2.50 percent, with the benchmark interest rate and marginal lending rate also increasing to 2.65 percent and 2.90 percent respectively.

This marks the ECB's second rate hike since the Iran war broke out in late February, following a similar increase in June.

The decision was expected by market experts, who had forecasted a 0.25 percentage point hike.