ECB sets stage for July interest rate hike to tackle inflation

The European Central Bank is setting the stage to raise interest rates in July, for the first time since 2011. Policymakers have been under growing pressure to tackle soaring inflation, which hit a record 8.1 percent in the eurozone in May. Frédérik Ducrozet, Head of Macroeconomic Research at Pictet Wealth Management, tells FRANCE 24 it will take time for households and businesses to feel the effects of the change.