ECB Hikes Rates Amid Rising Inflation and LDA Lands Tallest Building Deal

The European Central Bank (ECB) has increased interest rates by a quarter point in response to rising inflation, with ECB President Christine Lagarde describing it as a 'no brainer' decision.

This move comes after the bank revised up its inflation forecasts and follows a trend of higher prices across Europe. The rate hike is expected to be followed by further increases, according to the ECB.

In other economic news, the Land Development Agency (LDA) has struck a deal with Castlethorn to acquire 562 homes in what will be Ireland's tallest building on Parkgate Street, due for completion in 2029. The LDA is led by John Coleman and focuses on affordable housing.