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European Central Bank hikes rates despite market mayhem, pledges support if needed

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European Central Bank hikes rates despite market mayhem, pledges support if needed

European Central Bank (ECB) President Christine Lagarde announces a new monetary policy decision.

Frederick Florin | Afp | Getty Images

The European Central Bank on Thursday announced a further rate hike of 50 basis points, signaling it is ready to supply liquidity to banks if needed, amid recent turmoil in the banking sector.

The ECB had signaled for several weeks that it would be raising rates again at its March meeting, as inflation across…

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