The European Central Bank on Thursday announced a new rate hike of a quarter percentage point – the ninth consecutive increase – bringing the main rate to 3.75%.
The ECB has raised borrowing costs by a total of 425 basis points since last July.
“Inflation continues to decline but is still expected to remain too high for too long,” the ECB said in a statement.
At the same time, the bank did not say whether there would be another rate hike or whether July would mark the end of the ECB’s fastest-ever tightening spree.