The European Central Bank raised interest rates after 10 years

The European Central Bank raised interest rates after 10 years

To control inflation, the Central Bank of Europe has announced a half percent increase in interest rates.

This will be the first time since 2011 that the European Central Bank will raise interest rates.

According to foreign media reports, the new interest rate will be effective from July 27, this move is being done to control inflation.

In the European Union, the annual rate of inflation has reached 9.6 percent, while in the 19 countries that use the euro, this rate is 8.6 percent.

European Central Bank chief Christine Lagarde said in a press conference that inflation is continuing to rise and will remain above our target for some time.

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