ECB raises interest rates by another 25 basis points in ninth successive increase

The 0.25% hike by the European banking regulator is the ninth increase announced since last July.

European Central Bank (ECB) president Christine Lagarde. Pic: DANIEL ROLAND/AFP via Getty Images

The European Central Bank (ECB) has hiked interest rates by 0.25%, marking the ninth successive increase since the regulator began its campaign last July to drive down inflation.

The ECB have now raised borrowing rates by 4.25% in total and some experts, including ECB governing council member Klaas Knot, that a peak will soon be reached.