ECB hikes interest rates by 0.75% to tackle inflation • FRANCE 24 English

The European Central Bank has hiked its key interest rate by an unprecedented 0.75%, as it tries to tackle the highest inflation in the bloc's history. But the pace of price rises is largely due to energy costs - and Craig Erlam, Senior Market Analyst at Oanda, says the policy shift "is not going to be as effective as you would ordinarily see." He says government action - like the UK's newly-announced plans to cap energy bills - will have a bigger impact for most consumers. 🔔 Subscribe to France 24 now: 🔴 LIVE - Watch FRANCE 24 English 24/7 here: 🌍 Read the latest International News and Top Stories: Like us on Facebook: Follow us on Twitter: Discover the news in pictures on Instagram:


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