Economy
ECB hikes interest rates by 0.5%, Lagarde warns of more to come
European Central Bank president said financial markets hadn’t adequately accounted for the amount borrowing costs would need to rise to quell inflation
The European Central Bank has increased interest rates by a half-point, with ECB president Christine Lagarde telling investors to prepare for a long-running campaign of similar moves to quell the worst inflation in the history of the euro.
After successive hikes of 75 basis points, the ECB lifted the deposit rate more slowly on Thursday, to 2 per cent, as economists expected. Pledging to push borrowing costs “significantly” higher, officials widened efforts to tame prices ...
