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World Business Report: First broadcast 14/09/2023 14:32 GMT : ECB hikes rates up to 4%

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ECB hikes rates up to 4%

First broadcast 14/09/2023 14:32 GMT 

First broadcast 14/09/2023 14:32 GMT : ECB hikes rates up to 4%

BBC World Service - World Business Report, ECB hikes rates up to 4%

It's the latest move in a more-than year-long fight against stubbornly high inflation

The latest rates increase from 3.75% to 4% – the highest since the euro was launched in 1999.

The European Central Bank has hiked interest rates by a quarter of a percentage point to 4% today. That's the highest level since the launch of the euro currency in 1999. Officials say interest rates need to go higher in order to tame inflation. 

(Picture: Europe fiat money or euro currency concept : Closeup view of an old / used two euro coin with grooves and scratches. Euro is official currency of eurozone used by central bank and institutions in EU. Picture credit: Getty Images)

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