The European Central Bank has hiked its key interest rate by an unprecedented 0.75%, as it tries to tackle the highest inflation in the bloc's history. But the pace of price rises is largely due to energy costs - and Craig Erlam, Senior Market Analyst at Oanda, says the policy shift "is not going to be as effective as you would ordinarily see." He says government action - like the UK's newly-announced plans to cap energy bills - will have a bigger impact for most consumers. 


https://f24.my/8siA.y

🔔 Subscribe to France 24 now: https://f24.my/YTen
🔴 LIVE - Watch FRANCE 24 English 24/7 here: https://f24.my/YTliveEN

🌍 Read the latest International News and Top Stories: https://www.france24.com/en/

Like us on Facebook: https://f24.my/FBen
Follow us on Twitter: https://f24.my/TWen
Discover the news in pictures on Instagram: https://f24.my/IGen