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Tag Archives: Story of the Day

ECB Raises Interest Rates by Half Percentage Point amid Financial Sector Woes

After much thought, the ECB has increased interest rates by 50 basis points to stem sustainably high inflation.  The European Central Bank (ECB) recently hiked interest rates by another half a percentage point following today’s Frankfurt meeting. The ECB’s latest rate hike comes amid financial woes in the US and European banking sectors, with stocks taking a hammering. However, the Eurosystem’s banking arm deemed the increase necessary in a press release earlier today. The publication...

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