Euro zone inflation ‘projected to remain too high for too long’, central bank warns
Investors fear another hefty ECB rate hike will add pressure on banks. (Photo: AFP)
FRANKFURT: The European Central Bank stuck to a planned interest rate increase on Thursday as it remained laser-focused on battling sky-high inflation despite market turmoil over fears of a widening banking crisis.
The bank raised interest rates by half a percentage point, its sixth successive hike — but it notably omitted language from its statement about the need to raise rates “significantly” going forward.
Policymakers had faced calls to slow their aggressive hiking campaign after the collapse of Silicon Valley Bank and Signature…
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