ECB Lifts Deposit Rate to 2.25% With 0.25 Point Hike as Eurozone Inflation Tops 3%

The European Central Bank raised its deposit facility rate to 2.25% from 2.00%, a 0.25 percentage point increase and its first hike since 2023. The ECB said eurozone inflation has moved above 3% versus its near 2% target, with higher energy prices linked to Middle East disruptions and core inflation also edging up.