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European Central Bank unveils the biggest interest rate hike in its 24-year history

European Central Bank ECB Europe Inflation eurozone Economy

The European Central Bank announced the largest interest rate hike in the central bank’s 24-year history on Thursday as the eurozone battles record inflation stoked by an energy crisis.

Details: The ECB said it would hike rates by three-quarters of a percentage point, following a smaller — though still historically large — half-point increase in July.

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