FRANKFURT—The European Central Bank laid out plans to increase interest rates for the first time in more than a decade, joining many of its peers in raising borrowing costs to tackle persistent inflation that is spreading far beyond the U.S.

In an unusually detailed statement, the ECB said it intends to raise its key rate by a quarter percentage point at its next policy meeting in July to minus 0.25%, and increase it again in September, possibly by more than 0.25 percentage point. It said it would end its large-scale bond-buying program on July 1.

This post first appeared on wsj.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Going Private Again Is Popular Among Newly Public Companies

Markets Deals Ten companies that went public in 2020 or 2021 have…

‘How dare he?’ New Hampshire seethes at Biden’s planned changes to the 2024 Democratic presidential primaries

NEW CASTLE, N.H. — Former Vice President Mike Pence sat in a…

U.S. Rep. Cori Bush spends night outside Capitol to protest return of evictions

WASHINGTON — U.S. Representative Cori Bush, who was evicted three times and…

Indiana recycling facility had been cited for fire hazards years before this week’s massive blaze

The Indiana recycling facility where a massive fire broke out Tuesday, causing…