European Central Bank is 'not thinking about pausing' hikes as rates increase again

The increase is the ECB's eighth interest rate hike in its aggressive campaign to tackle inflation

The President of European Central Bank Christine Lagarde (AP Photo/Michael Probst)

The European Central Bank (ECB) is “not thinking about pausing” interest rate hikes following its eight increase in less than a year piling further pressure on hard pressed homeowners.

On Thursday, the ECB announced a further interest rate increase of 0.25% as it continues to grapple with sticky core inflation. Since July 2022, interest rates have now gone up by 4% with more expected over the summer and potentially into the autumn.