Economy / Markets
ECB lifts deposit rate to 2.5% with October tightening on the table
The European Central Bank raised its deposit facility rate by 25 basis points to 2.50 percent on Thursday, the second hike since the Iran war pushed energy prices higher, and lifted both its growth and inflation projections. ECB officials told Bloomberg they expect further tightening, with another increase possible as soon as October, while President Christine Lagarde called the move 'a no brainer' and said the decision was unanimous.