The ECB raised rates in December, February and March by half a percentage point each month.
The move is similar to what the US Federal Reserve did on Wednesday, which raised interest rates by 25 basis points, taking interest rates in the world’s largest economy to a 5-5 range, 25%.
The bank kept its options open on future moves as it continues its battle to tackle high inflation in the eurozone, but did not mention the need for further increases.
The central bank said in its statement that inflation expectations “remain elevated for a very long time.”
He added that although underlying inflation has declined in recent months, underlying price pressures “remain strongâ€.
Data from the European Union’s statistics office, Eurostat, showed on Tuesday that inflation in the twenty eurozone countries rose to 7% in April from 6.9% in March, the first increase in inflation in about 6 months.
However, core inflation in the euro zone, which excludes food and energy prices, fell slightly to 5.6% in April from 5.7% in March, the first time that it has gone down in 10 months.
The International Monetary Fund had indicated in earlier forecasts last week that inflation in the region would not approach the target until 2025.
Inflation has slowed sharply from the double digits at the end of last year, but remains well above the ECB’s 2% target.
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