ECB raises deposit rate to 2.25% as inflation climbs (opens in new tab)

The European Central Bank raised interest rates on June 11, lifting its deposit facility rate by 25 basis points to 2.25% from 2%, the bank’s first increase since September 2023. The ECB also lifted its main refinancing operations rate to 2.40% and its marginal lending facility rate to 2.65%. The bank acted after eurozone inflation reached 3.2% in May, above its 2% target, as higher energy costs linked to the Iran war drove the latest pressure. ECB President Christine Lagarde said the war was...