Christine Lagarde

European Central Bank makes largest-ever interest rate hike

FRANKFURT, Germany (AP) — The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out the inflation that is squeezing consumers and pushing Europe toward recession.The bank’s governing council raised its key benchmarks by …

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Euro zone inflation 8.6% in June, ECB to hike rates for first time in 11 years

The ECB has announced it will be hiking rates in July and September to counter record inflation.Daniel Roland | Afp | Getty ImagesEuro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years.Headline inflation came in at 8.6% (year-on-year) for last month, according …

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