ECB raises interest rates by 0.25% marking tenth straight hike as part of inflation battle 

From July last year to September, monthly mortgage repayments have increased by €280 or €3,360 over the year

European Central Bank (ECB) President Christine Lagarde (Photo by DANIEL ROLAND/AFP via Getty Images)

The European Central Bank has hiked interest rates by another 0.25%, marking its tenth straight increase since the regulator began its aggressive battle with inflation in July last year.

The ECB has raised borrowing rates by 4.5% in total in just over a year, with experts previously split on whether the regulator would go ahead with another 0.25% increase.