ECB to raise interest rates for the first time in a decade

The European Central Bank has said it will continue to raise interest rates this year, stating that it expects to next do so again in September

Christine Lagarde, President of the ECB: ‘High inflation is a major challenge for all of us.’ Picture: Getty

The European Central Bank (ECB) has officially announced it will end its multi-billion-euro bond buying programme in July and will also raise interest rates by a quarter of a percentage point.

It marks the first time the ECB has lifted interest rates in more than a decade and signals an end to the ultra-loose monetary policies that have defined Europe’s financial system over the last 10 years. The ECB also said that it would continue ...