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European Central Bank hikes rates from 3.5% to 3.75%
The European Central Bank increased its interest rate by 0.25 percentage points, or 25 basis points, with the most recent increase. The ECB's current interest rate is now 3.75, a 23-year high, indicating that the battle against inflation is far from over. Although inflation continues to decline, it is still anticipated to stay too high for too long. We are determined to make sure that inflation returns to our two percent medium-term Target in a timely manner.
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