FRANKFURT, Germany (AP) — The European Central Bank has pressed ahead with another interest rate hike and is making clear more are on the way. The quarter-percentage point increase Thursday aims to crush inflation that’s driving up the cost of groceries, utility bills and summer vacations. It comes a day after the U.S. Federal Reserve took a break from its own string of increases. In Europe, it was the eighth straight rise since July 2022 as the bank seeks to bring down inflation from 6.1%. ECB President Christine Lagarde says the bank “will continue to hike at our next meeting” in July and it’s “not thinking about pausing.”
European Central Bank hikes rates again and vows more after US Fed hits pause
