On Thursday, the European Central Bank (ECB) raised interest rates as planned by 0.5% to 3.5%, the highest level since 2008, according to a press release.
The ECB writes that the tightening is taking place due to the assessment that “Inflation is projected to remain too high for too long”.
Regarding last week’s turmoil in the banking sector, the ECB writes that it is ready to provide liquidity support if necessary.
