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ECB President Christine Lagarde addresses a news conference in Frankfurt.

REUTERS/Kai Pfaffenbach

Hard Numbers: ECB rate hike, China-India thaw, Indigenous oil drilling pause, Nigerian donkey penises

75: The European Central Bank on Thursday raised interest rates by an unprecedented 75 basis points, which means some Europeans will shell out more for their mortgages. Following the US Federal Reserve’s path, the ECB also warned of further hikes until inflation cools.

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Paige Fusco

The Graphic Truth: EU (finally) tackles inflation

In its Thursday meeting, the European Central Bank is expected to raise interest rates by up to 50 basis points — its first hike in more than 11 years — in a bid to tame rising inflation. For months, the ECB has stubbornly resisted calls to boost rates as inflation soared to a record 8.6% in June amid fears of a looming EU-wide recession. The hike will end the ECB's eight-year experiment with negative interest rates, which make it less attractive to save money but help spur demand (and, in turn, inflation). We take a look at Eurozone interest rates compared to inflation over the past 20 years.

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