ECB hikes interest rate by 0.5%

Tribune Web Desk

Updated At : 03:52 PM Dec 16, 2022 IST

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Frankfurt, December 15

The European Central Bank (ECB) slowed its record pace of interest rate hikes on Thursday, joining the US Fed and other central banks around the world in reinforcing an inflation crackdown while glimpsing headway against the high prices that are plaguing consumers.

The Bank of England and Swiss National Bank also dialled back to half-point increases from three-quarters on Thursday, as did the Fed a day earlier in a blitz of central bank action this week.

The banks’ global campaign against soaring consumer prices has slowed somewhat as inflation has made small declines from painfully high levels. — AP

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