Frankfurt am Main (AFP) - The European Central Bank announced Thursday that it will raise interest rates to fight inflation, despite mounting concerns about a bleak economic outlook.

As expected, the bank again raised the three main interest rates by 75 basis points, to range between 1.5 and 2.25 percent.

The bank has raised rates three times since July, following the example of other central banks around the world. The central bank also tightened the conditions for low-interest bank loans.

The European Central warned the governments of the euro area against increasing the burden of its public debt at a time when the authorities seek to relieve pressure on households and commercial activities as a result of the huge rise in energy prices.

"Governments should pursue fiscal policies that show their commitment to gradually reducing high public debt," said European Central President Christine Lagarde at a press conference, adding that policy makers should choose "temporary" measures targeting the most vulnerable.

In addition, Lagarde indicated that the prospects for economic growth in the short term in the euro area tend to decline, while inflation tends to rise, against the backdrop of the war in Ukraine, which affects economic activity.

Lagarde said that a "prolonged war in Ukraine remains a major threat" to growth in the euro zone, pointing out that "the possibility of inflation is taking shape more on the horizon."