ECB raises rates as Lagarde warns of ‘more ground to cover’

May 09,2023

The European Central Bank raised interest rates by a quarter of a percentage point on Thursday, as its leader warned the fight against inflation was not yet won.

Christine Lagarde, ECB president, signalled the decision to increase its benchmark deposit rate at a slower rate than previously to 3.25 per cent would not be the last such move this year.