ECB Likely to Raise Rates Again in October

European Central Bank officials have stated that they expect further interest rate hikes in the coming months to counteract rising inflation caused by increases in gas and oil prices resulting from the war. The bank may take a new step at its next meeting on October 29, depending on data and developments related to Iran. The bank had raised the interest rate to 2.50% at the last meeting, with ECB President Christine Lagarde emphasizing that decisions will depend on economic data and developments. This move aims to prevent inflationary pressures from energy prices from spreading to the rest of the eurozone economy.

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