FRANKFURT – THE European Central Bank is raising its main interest rate by a quarter of a percentage point to fight inflation despite the debt problems afflicting Portugal, Greece and Ireland.

The key refinancing rate is going up to 1.25 per cent from a record low of 1 per cent.

LONDON – THE Bank of England has held its base lending rate at an all-time low of 0.5 per cent, as analysts expected, despite mounting concerns about high inflation.

The Bank’s Monetary Policy Committee on Thursday also announced no new funding for its economic stimulus program of asset purchases, known as quantitative easing.

About the Author

Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
The views and opinions expressed in this article are those of the author. This does not reflect the official position of any agency, organization, employer or company. Refer to full disclaimers here.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}