30 Second Updates – European Central Bank confirms an interest rate hike in July
- The annual consumer price climbed to 8.1% in the Eurozone in May.
- In order to curb the exacerbating inflation, the ECB Governing Council announced plans to raise its key interest rates by 25 basis points at its July meeting.
- With the war in Ukraine intensifying inflation across the 19-member euro area, policymakers may face the challenge of economic slowdown.
