ECB expected to raise rates for first time since Sept. 2023

The European Central Bank (ECB) is expected to raise interest rates in July for the first time since September 2023 in response to ongoing geopolitical uncertainty with Iran and soaring energy prices, Barrons reported. However, many experts warn the move's effect will be limited, as the current inflation stems from an energy supply shortage rather than actual consumer demand. The tightening cycle is projected to be short.