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BREAKING: ECB hikes rates, first major G7 central bank to tighten this cycle

BREAKING: The European Central Bank has raised interest rates, becoming the first major G7 central bank to tighten policy in the current cycle. The deposit rate is now 2.25%, the main refinancing rate 2.40%, and the marginal lending facility 2.65%. The Iran war has pushed eurozone inflation above 3%, prompting the ECB to unwind two years of rate cuts in a single meeting. Europe is now in tightening mode, with markets turning attention to whether the Federal Reserve follows next. #Gold #PreciousMetals #Macro
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