The European Central Bank also raised interest rates Business News | Malayalam News

Frankfurt: Following the US Federal Reserve, the European Central Bank has hiked interest rates. The decision is aimed at reducing the rate of inflation. The decision applies to 19 countries whose currency is the euro. The rate has been increased by 0.33%. This is the first time since the establishment of the European Central Bank in 1999 that such a rise has occurred. Interest rates are usually increased by 0.25% each.

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