The European Central Bank (ECB) pushed through another big increase in interest rates on Thursday, sticking with its question to fight inflation despite turmoil in financial markets
The ECB raised its three policy rates by 50 basis points in its sixth consecutive rate hike and said future moves will depend on incoming data.
Thursday’s decision increases the rate the ECB pays on bank deposits, which is the benchmark for borrowing costs in the euro zone, to 3.0% from 2.5%.
European stocks fluctuated in volatile trading and were last 0.2% higher on the day , having been flat just before the decision. Banking shares fell 0.1%.
