Christine Lagarde, president of the European Central Bank (ECB), addresses a briefing after the bank’s interest-rate decision on Thursday in Frankfurt. (Photo: Bloomberg)FRANKFURT - The European Central Bank raised interest rates for the 10th consecutive time as President Christine Lagarde signalled a shift in gear towards keeping them high to choke inflation out of the economy. The Governing Council repeated language that it will keep rates at “sufficiently restrictive levels for as long as necessary”. The ECB decision is the first of several across developed economies over the coming days. The Bank of England, the Swiss National Bank and central banks in Sweden and Norway will review their policy rates on Sept 21.

Source: Bangkok Post September 14, 2023 15:08 UTC