The European Central Bank has raised interest rates for the first time in 11 years, becoming the latest central bank to act against inflation. The ECB lifted its key interest rate by a surprise 50-basis-point on July 21, the first hike since 2011 and more than expected, as it attempts to curb soaring inflation in the eurozone.

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https://news.cgtn.com/news/2022-07-22/ECB-hikes-interest-rates-by-50-bps-the-first-time-in-11-years-1bS3EnGEDyE/index.html

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