ECB raises rates as war drives up Europe’s energy bill - EU Perspectives

Christine Lagarde said inflation would remain above the ECB’s 2% target into the first half of 2027 as energy costs continued to rise / Photo: Facebook @ChristineLagarde Borrowing costs are rising again across the eurozone as conflict in the Middle East pushes up energy prices. The European Central Bank raised its key deposit rate to 2.5% while upgrading its growth forecast on the back of resilient manufacturing and consumer spending . The European Central Bank (ECB) raised all three of its main interest rates by 0.25 percentage points on Thursday. The deposit rate will rise from 2.25% to 2.5% on 16 September.