ECB Raises Rates 25 Basis Points, First Increase Since Sep 2023 as Eurozone Inflation Hits 3.2% in May

The European Central Bank raised interest rates by 25 basis points on June 11, its first hike since September 2023, after eurozone inflation rose to 3.2% in May. Markets are pricing a 66% chance the US Federal Reserve hikes at least once before year end, following the ECB move.