The European Central Bank hiked the interest rate by another 75 basis points.
in view of rising inflation in the euro area.
Earlier in June too, there was an increase of 25 basis points. In this way, a total of 100 basis points has been added this year.
According to the European Central Bank, the latest monetary decisions were taken at the meeting of its Governing Council today. It was decided to increase the interest rate by 0.75 percent in the meeting.
The decision is an important step to ensure that inflation in Europe remains within the target of 2 percent.
In the meeting, it was also agreed that further steps can be taken to control inflation while keeping an eye on the situation.