European Central Bank raises rates by 25 basis points after Fed opts to pause

The European Central Bank raised rates on Thursday as it attempts to bring down persistently high inflation.

The European Central Bank on Thursday announced a new rate increase of 25 basis points, taking its main rate to 3.5%.

Despite the recent cooling in inflation, the ECB actually raised its headline and core expectations for this year and the next. It now expects headline inflation at 5.4% this year, at 3% in 2024 and at 2.2% in 2025.Daniel Roland | Afp | Getty Imageson Thursday announced a new rate increase of 25 basis points, taking its main rate to 3.5%.

While markets widely expected the Thursday decision, investors argue there is a lot of uncertainty about what the ECB might do beyond the summer. Despite the recent cooling in inflation, the ECB actually raised its headline and core expectations for this year and the next. It now expects headline inflation at 5.4% this year, at 3% in 2024 and at 2.2% in 2025.

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