ECB Resumes Rate Hikes Amid Middle East Energy Price Surge

The European Central Bank (ECB) has resumed its rate hike cycle after a two-meeting pause, increasing the deposit facility rate to 2.50% amid concerns over surging energy prices in the Middle East.

The decision was made at the ECB's regular Governing Council meeting in Berlin on September 10th and marks the first rate hike since June.

The ECB cited the prolonged fighting in the Middle East as a key factor contributing to the rise in energy prices, including crude oil and natural gas, which are expected to spill over into broader price levels.