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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Deflation to War: How the ECB Responded and What is Next

The headquarters of the European Central Bank in Frankfurt | Reuters

The global surge in inflation has brought to an end a long period of low interest rates and forced central banks around the world to try to bring prices under control by raising borrowing costs.

Inflation in the eurozone soared to an all-time peak of 8.1 percent in May, precipitating a response from the European Central Bank, AFP said.

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