The European Central Bank imposed another large interest-rate increase Thursday, as policymakers tried to quell the region’s record-high inflation.
The central bank, which sets monetary policy for the 19 countries that use the euro, raised interest rates by three-quarters of a percentage point, matching the previous increase last month. After a slow start in raising rates — its July increase was the first in more than a decade — the bank said it had rapidly tightened its policy stance as inflation has proved worse and more persistent than the bank expected.
