ECB Set for Second Rate Hike Amid Rising Inflation Concerns

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

This move comes after recent data showed euro-zone inflation jumped to 3.3% in August, the fastest pace in almost three years and above the 2% target.

Despite resilient growth, officials seem unambiguous about the need to tighten pre-emptively, with some even suggesting a third hike may be necessary later in the year.