ECB surprises with aggressive rate hike, first since 2011

14 Sept 03:10 Key points summarised by AI

The ECB enacted a larger-than-expected 0.50% interest rate hike, its first since 2011, to counter soaring eurozone inflation (8.6% in June), effectively ending the era of negative rates.
The central bank introduced a new 'Transmission Protection Instrument (TPI)' to combat bond market stress and prevent unwarranted increases in borrowing costs for highly indebted eurozone governments.
Future rate hikes will be data-dependent and decided on a meeting-by-meeting basis, as the ECB balances persistent inflation pressures with a fragile eurozone economy and looming energy crisis.

Lamphun in a New Light

Today 15:02 Key points summarised by AI

Lamphun illuminates its ancient city with two concurrent light festivals: the high-tech VIJIT Thailand @ LAMPHUN and the traditional Hundred Thousand Lantern Festival.
VIJIT Thailand @ LAMPHUN transforms historic landmarks into an outdoor gallery, using projections and multimedia to animate Lamphun's history, including Queen Chamadevi's story.
The Hundred Thousand Lantern Festival, part of Yi Peng, fills temples and streets with countless traditional lanterns, symbolizing Buddhist devotion and personal wishes.
These festivals offer a unique after-dark experience, blending contemporary light art with centuries-old Lanna traditions, connecting visitors to Lamphun's past and faith.