ECB unveils another jumbo rate hike to tackle inflation ...Qatar

The European Central Bank yesterday rolled out another bumper rate hike to combat soaring inflation, despite growing concern that the eurozone is hurtling towards a painful recession. The ECB’s 25-member governing council repeated last month’s unprecedented move and opted for another increase of 75 basis points, leaving its three main rates sitting in a range of between 1.5% and 2.25%. The hike was widely expected and comes as the Frankfurt institution faces pressure to rein in record-high inflation, mainly driven by skyrocketing energy costs in the wake of Russia’s war in Ukraine. Eurozone inflation stood at 9.9% in September, nearly five times the ECB’s 2% target. In its statement, the EC

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ECB unveils another jumbo rate hike to tackle inflation ...Qatar

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