The European Central Bank raised Interest rate.

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➤ The European Central Bank (ECB) has raised interest rates by a quarter percentage point to combat persistent inflation.

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➤ This is the 10th consecutive meeting where the ECB has increased interest rates.
➤ The main refinancing rate is now at 4.50%, up from the forecasted 4.25%.
➤ Despite the risks of a recession, the ECB is prioritizing the fight against inflation.
➤ The ECB has signaled that it is likely done with tightening policy for now.