European Central Bank Slows Pace of Rate Increases
FRANKFURT—The European Central Bank increased its key rate by a quarter percentage point, shifting to less aggressive monetary-policy tightening amid signs that the bank’s monthslong campaign against high inflation is starting to bear fruit.
The decision to move more slowly in raising borrowing costs comes after the Federal Reserve nudged rates higher on Wednesday but signaled a pause in monetary tightening.
FRANKFURT—The European Central Bank increased its key rate by a quarter percentage point, shifting to less aggressive monetary-policy tightening amid signs that the bank’s monthslong campaign against high inflation is starting to bear fruit.
The decision to move more slowly in raising borrowing costs comes after the Federal Reserve nudged rates higher on Wednesday but signaled a pause in monetary tightening.
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