ECB raises eurozone interest rates as Iran war stokes inflation

European Central Bank increases main deposit rate to 2.25%, with two further rises expected by next spring Business live – latest updates The European Central Bank has raised interest rates for the first time since 2023 in response to higher inflation caused by the war in Iran. The ECB raised its main deposit rate from 2% to 2.25% and financial markets are pricing in two more rises by next spring.