Europe Announces First Interest Rate Hike In A Decade To Combat Inflation

The European Central Bank (ECB) today confirmed it will hike rates for the first time in over a decade in a sign that the era of loose policy and low inflation is coming to an end. President Christine Lagarde and co said the central bank will lift rates 25 basis points next month, which will mark the first increase in the eurozone since 2011.

The central bank also hinted that it will move much faster if the inflation profile in the eurozone continues on its current upward trajectory.“If the medium-term inflation outlook persists or deteriorates,…