ECB Raises Deposit Rate to 2.25% on Thursday, First Hike Since 2023 as Energy Prices Surge

According to ChainCatcher, the European Central Bank is expected to raise its deposit rate from 2% to 2.25% on Thursday (June 12), marking the first rate increase since 2023, as energy price shocks stemming from Middle East tensions drive inflation higher. The eurozone's May inflation rate climbed to 3.2%, exceeding the ECB's 2% target, with energy prices emerging as the primary driver. The policy shift comes amid economic headwinds, following first-quarter contraction in the eurozone.
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