By Tom FairlessFRANKFURT--The European Central Bank raised its key interest rate by a quarter percentage point to a record high, choosing to press ahead with its fight against persistent inflation despite concerns that it could tip the eurozone into recession. The rate increase, the ECB's 10th in a row, took its deposit rate to 4% from below zero last year. The ECB signaled in a statement that it might have raised rates high enough to return inflation to target, although it didn't rule out further rate increases. Write to Tom Fairless at tom.fairless@wsj.com(END) Dow Jones NewswiresSeptember 14, 2023 08:35 ET (12:35 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal September 14, 2023 12:45 UTC