ECB to join rate hike club with big move under discussion

Published by
Reuters UK

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank will raise interest rates for the first time in 11 years on Thursday with a bigger-than-flagged move seen as increasingly likely as policymakers fear losing control of runaway consumer price growth. With inflation already approaching double-digit territory, it is now at risk of getting entrenched above the ECB’s 2% target, requiring rate hikes even if that slows – or crashes – an economy suffering from the impact of Russia’s war in Ukraine. But policymakers appear far from united on just how fast the ECB sho…

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