ECB poised for big rate hike to fight inflation

By Agence France-Presse

Sep 06, 2022 12:04 am

FRANKFURT: After raising interest rates for the first time in over a decade at their last meeting, European Central Bank (ECB) policymakers are poised to deliver another record hike on Thursday in a show of determination to tame soaring inflation.

Steep increases in energy prices in the wake of Russia's invasion of Ukraine on February 24 have heaped pressure on households and sent the pace of consumer price rises to new highs.

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