Fed raises interest rates by 75 bps

The Federal Reserve announced it is raising the interest rates by 75 bps. In just seven months, the Fed has raised the federal funds rate by a total of 3.0 percentage points.

ECB raises key interest rate again to fight inflation

The European Central Bank (ECB) raised the key interest rate by 0.75 bps to 1.25% and explained the decision with rising inflation.