ECB intervenes with rate hike to 4.25%

clock

The European Central Bank (ECB) has raised interest rates to 4.25% to keep inflation under control.

The rate rise is the first time the ECB has acted in over a year, while other central banks have made considerable changes over the same period. Inflation in the Eurozone countries hit 4% over the last twelve months, the highest rate ever recorded. Rising food and fuel costs are a major contributor to high inflation in Europe, as in much of the rest of the world, but the rate change is likely to push oil prices higher, which have already risen over $146 a barrel earlier today. The ECB says it is prepared to hike rates even further if oil and food prices continue to rise. If you would li...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read