ECB hikes rates again; Irish government under pressure over energy as Truss makes price promise

The European Central Bank raised its key interest rates by an unprecedented 75 basis points and signalled further hikes, prioritising the fight against inflation even as the economy is heading for a likely winter recession. With inflation at a half-century high and approaching double-digit territory, policymakers are worried that rapid price growth could become entrenched. Following up on its July rate hike, the ECB raised its deposit rate to 0.75 per cent from zero and ...