ECB Set To Increase Interest Rates In July

Photo Credit: @ecb on Twitter

It will end a decade-long bond-buying scheme introduced off the back of the financial crash.

The European Central Bank is to increase interest rates by 0.25 per cent in July.

It will end a decade-long bond-buying scheme, introduced off the back of the financial crash where rates were below zero.

It comes as the rate of inflation in Ireland increased by 7.8 per cent to the end of May.

The ECB says it's looking at further increases in September as a result of rising inflation.

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