Sluggish eurozone economies will not welcome ECB’s interest rate rise

The European Central Bank raised its main deposit rate by a quarter of 1% to 4% – the highest level in the euro’s history. Photograph: Wolfgang Rattay/Reuters

Interest rates went up again across the eurozone on Thursday – probably for the last time during this cycle of hikes that has become a familiar story in the single currency bloc, as it has in the UK and US.

The European Central Bank (ECB) raised its main deposit rate by a quarter of one per cent to 4% – the highest level in the euro’s history.