The Ecb Is Planning To Raise Interest Rates In July As The Problem Of Inflation Deepens

Listen to the article (2 minutes) FRANKFURT — The European Central Bank has unveiled plans to raise interest rates for the first time in more than a decade, joining many of its counterparts in rising borrowing costs to tackle persistent inflation far beyond the US The change in ECB policy, about a year after rising inflation in the eurozone above the 2% target, will help narrow the gap with the Federal Reserve, which has doubled interest rates since March to a range between 0.75% and 1%.