ECB to hike interest rates again

The European Central Bank's governing committee is planning to raise interest rates for the second time next week, with expectations of a quarter-point increase on Thursday. This comes amid elevated inflation of 3.3% in August, the highest in three years and exceeding the 2% target. The move occurs amid ongoing tensions in the Middle East and rising energy costs, with discussions about the possibility of a third interest rate hike before the end of the year. Despite a slowdown in core inflation, the bank remains committed to its monetary tightening policy to prevent inflation from continuing to rise, with expectations of repeating the increase in December, although challenges such as fluctuations in oil markets and financial markets remain.

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