European Central Bank (ECB) President Christine Lagarde has defended a decision to increase interest rates, saying it is "robust across three different scenarios".
The ECB announced today that it is raising rates by 0.25 percent for the first time in three years due to the ongoing war in the Middle East. It is the bank's first rate hike since 2023, when it raised rates in response to surging energy prices caused by Russia's full-scale invasion of Ukraine.
