Europe’s central bank to hike rates in July, 1st in 11 years

Christine Lagarde, European Central Bank President, and Netherlands Bank (DNB) President Klaas Knot, right, explain the Governing Council's monetary policy decisions during a press conference in Amsterdam, Netherlands, Thursday, June 9, 2022. The European Central Bank said it would carry out its first interest rate increase in 11 years in July, followed by another hike in September. The bank made the surprise move Thursday, saying that inflation had become a "major challenge" and that inflationary forces had "broadened and intensified." (AP Photo/Peter Dejong)

Europe’s central bank to hike rates in July, 1st in 11 years