ECB raises rates by 25 basis points in a unanimous decision on Middle East inflation pressures
The European Central Bank raised its three rates by 25 basis points on September 10, effective September 16, taking the deposit rate to 2.50%, refinancing to 2.65% and the marginal lending rate to 2.90%, to curb inflation pressures renewed by the Middle East conflict; Christine Lagarde said the decision was unanimous and easy, and the ECB projects 3.0% inflation in 2026, returning to the 2% target only at the end of 2027. European stocks fell, with the Stoxx 600 at its lowest since July 8.