Wall Street

ECB to finally join rate hike club with big move on agenda

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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 already suffering from the impact of Russia’s war in Ukraine. But policymakers appear far from united on just how fast the…

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