The European Central Bank has raised interest rates for the 10th meeting in a row to counter stubborn inflation but signalled it is likely done tightening policy.

The central bank for the 20 countries that use the euro lifted its deposit rate to 4.0 per cent from 3.75 per cent, taking it to an all-time-high.

UK correspondent Gavin Grey joins Heather du Plessis-Allan to talk about it.

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