ECB Increases Interest Rates in Efforts to Combat Lingering Inflation.

The European Central Bank (ECB) is continuing to tighten its monetary policy somewhat more slowly and is increasing its interest rates by a quarter of a percentage point each time. Although inflation has tended to decrease in recent months, the underlying price pressure is still too strong, ECB President Christine Lagarde justified the increase. “The inflation outlook is too high for too long,” she added.