The European Central Bank's Headquarter in Frankfurt, Germany. Photo: Manh Hung/VNA

The bank is expected to raise interest rates further in December.

The ECB previously raised interest rates by 0.5 percent on July 21, its first hike in 11 years, and went for another 0.75 percent increase in September.

The decisions were made as inflation in September climbed to a record high. The Consumer Price Index increased 9.9 percent compared to the same period last year, its biggest increase since 1999.