India, Sept. 10 -- The European Central Bank raised interest rates on Thursday, as expected, prompted by the fears of an inflation shock as energy prices surge amid the recent escalation of the Iran war.
The ECB Governing Council, led by President Christine Lagarde, hiked by the benchmark - the deposit rate by 25 basis points to 2.50 percent. The main refinancing rate was raised by a similar size to 2.65 percent, and the lending rate was lifted to 2.90 percent.
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