The European Central Bank is widely expected to hike interest rates on Thursday, erring on the side of caution as the US-Iran war drags on, keeping oil prices high and raising inflation again. Why is the bank expected to raise rates? ▻ ↧ Another rate hike, just for insurance: Five questions for the ECB The European Central Bank is widely expected to hike interest rates on Thursday, erring on the side of caution as the U.S.-Iran wardrags on, keeping oil prices high ​and raising inflation again.