ECB raises interest rates for first time since 2023

WAM
11 Jun 2026, 19:07 GMT+10

BRUSSELS, 11th June, 2026 (WAM) -- The European Central Bank (ECB) has raised interest rates for the first time since 2023, in a move aimed at containing mounting inflationary pressures linked to global developments.

The ECB decided to increase its deposit rate from 2 percent to 2.25 percent, while financial markets are anticipating two additional rate hikes by spring next year.

The decision comes after eurozone inflation rose to 3.2 percent in May 2026, compared with 3 percent in April, reflecting the impact of higher energy prices and the continued rise of oil prices above US$90 per barrel.

The move is widely seen as a pre-emptive effort to curb inflation, particularly following criticism that the ECB was slow to tighten monetary policy during the Ukraine crisis in 2022.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.

More Information

Business

Section

Existing home sales jump as buyers return to housing market

WASHINGTON, D.C.: Sales of previously owned homes in the United States rose to their strongest pace of the year in May, signaling renewed...

Iran war, latest CPI, undermine Wall Street, Nasdaq loses nearly 2%

NEW YORK, New York - U.S. stocks tumbled on Wednesday as the latest CPI reading showed inflation in the United States has surged to...

OpenAI joins Anthropic in move toward blockbuster IPO

SAN FRANCISCO, California: OpenAI has confidentially filed for a U.S. initial public offering, becoming the latest artificial intelligence...

Meta told to give competing AI chatbots WhatsApp access

BRUSSELS, Belgium: European Union regulators have ordered Meta Platforms to restore access to WhatsApp for competing artificial intelligence...

Amazon backs US fiber optics expansion with Corning pact

SEATTLE, Washington: Amazon has signed a multi-billion-dollar agreement with Corning aimed at expanding U.S. production of optical...

Dow Jones gains 86 points despite techs slide

NEW YORK, New York - Global stock markets closed with sharp divergences Tuesday, as U.S. indexes delivered a mixed performance while...

Southeast Asia

Section