ECB lifts deposit rate to 2.25% on June 11, first hike since September 2023

On June 11, the European Central Bank raised its deposit rate by 25 basis points to 2.25%, marking its first increase since September 2023. May eurozone inflation came in at 3.2% year on year, with energy prices up 10.9%, and the ECB said the Middle East conflict is adding broader inflation pressure.