Economy·July 21, 2022ECB: Announced the first rate hike in 11 years The European Central Bank recently raised its interest rate for the first time in almost 11 years The European Central Bank recently raised its interest rate for the first time in almost 11 years. The ECB, with an "aggressive move", increased its key interest rate by 0,5%, against the 0,25% it initially planned. Source: RES-EAP