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Sumaira FH Published June 11, 2026 | 06:45 PM
BRUSSELS, (UrduPoint / Pakistan Point News / WAM - 11th Jun, 2026) The European Central Bank (ECB) has raised interest rates for the first time since 2023, in a move aimed at containing mounting inflationary pressures linked to global developments.
The ECB decided to increase its deposit rate from 2 percent to 2.
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The decision comes after eurozone inflation rose to 3.2 percent in May 2026, compared with 3 percent in April, reflecting the impact of higher energy prices and the continued rise of oil prices above US$90 per barrel.
The move is widely seen as a pre-emptive effort to curb inflation, particularly following criticism that the ECB was slow to tighten monetary policy during the Ukraine crisis in 2022.
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