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Europe's central bank raises rates to fight inflation from Iran war, the Fed to decide next week
The European Central Bank raised interest rates to 2.25% to combat inflation driven by higher oil prices from the Iran war. The U.S. Federal Reserve will decide on rates next week, with analysts expecting it to remain unchanged for now. Oil prices surged to $92 per barrel, pushing Eurozone inflation to 3.2%, above the ECB's target.
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