ECB Prepares Second Interest-Rate Hike Amid Ongoing Inflation Fears

The European Central Bank (ECB) is expected to deliver its second interest-rate hike in the coming week, solidifying its position as the most hawkish central bank among the Group of Seven.

This move comes despite recent data showing eurozone inflation jumped to 3.3% in August, the fastest pace in almost three years and above the 2% target.

The ECB has been unambiguous about the need to tighten pre-emptively, with officials seeming in no mood to take chances after criticism for their delayed reaction to the 2022 cost-of-living shock.