ECB Raises Rates for First Time in Three Years as U.S. PPI Hits 6.5% in May

According to Wall Street Journal reporting on June 11, the European Central Bank raised interest rates for the first time in nearly three years amid mounting inflation pressure, while U.S. May Producer Price Index surged 6.5% year-over-year, marking the largest increase in over three years. Core PPI unexpectedly cooled to 4.9%. Separately, the Iran nuclear agreement negotiations advanced significantly, with reports indicating the deal framework is finalized and may be signed in Europe this weekend, easing Middle East tensions.
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