The European Central Bank has increased interest rates for the first time in three years. This move is aimed at combating inflation, which has been rising due to the conflict in the Middle East. As a result of this change, Europeans can expect to see an increase in the cost of mortgages and loans.

4%. Further details on this development are available from El Mundo. It is reported that inflation is expected to continue rising, potentially reaching over 3% by the end of 2026.