The European Central Bank raised interest rates by a quarter of a percentage point Thursday and signaled another hike to come next month, unmoved by evidence of a mild recession in the 20 countries that use the euro.
The ECB has now hiked rates at eight consecutive meetings since July in a fight against inflation. The latest move takes the benchmark rate in the euro area to 3.5%, the highest since May 2001.
Read More : European Central Bank Raises Interest Rates to Highest Level in 22 Years