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The European Central Bank plans to raise interest rates to counter energy shock inflation, possibly marking its first shift toward tightening since 2023.

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Mars Finance News, June 11 — The European Central Bank (ECB) is expected to announce a rate hike on Thursday, the first time it has raised interest rates since 2023, in response to an energy price shock triggered by the Middle East conflict. Market expectations are that the ECB’s deposit rate will be raised from 2.00% to 2.25% to contain upward inflation pressures caused by limited energy supply resulting from heightened tensions in the Strait of Hormuz. Data shows that the eurozone’s May inflation rate has risen to 3.2%, which is clearly higher than the central bank’s 2% policy target, with higher energy prices serving as the main driving factor. The policy adjustment comes against a backdrop of pressure on eurozone economic growth: the economy contracted in the first quarter, and some economists have warned that rate hikes could further weigh on growth and consumer confidence. Analysts note that the Federal Reserve and the Bank of England have not yet tightened policy in sync, and the ECB’s early action may reflect its greater sensitivity to energy-driven inflation. The market will focus on comments from ECB President Lagarde to determine whether a new round of tightening cycle will begin.
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