The European Central Bank (ECB) has raised its interest rate by 0.25 percentage points. With the latest hike, the ECB's current interest rate stands at 3.75%, this is a 23-year-high and indicates that the fight against inflation is far from over.

European central bank hikes rates from 3.5% to 3.75% | World Business Watch

The European Central Bank raised its growth and inflation projections on Thursday but pledged a steady flow of stimulus over the summer, fearing that a retreat now would accelerate a concerning rise in borrowing costs and choke off the recovery.

World Business Watch: ECB projects brighter outlook but maintains steady flow of stimulus

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European central bank hikes rates from 3.5% to 3.75% | World Business Watch

World Business Watch: ECB projects brighter outlook but maintains steady flow of stimulus