European Central Bank policymakers looked set to deliver another interest rate increase as their fight against eurozone inflation reaches the one-year mark.
The ECB began lifting borrowing costs in July last year to combat soaring costs.FRANKFURT - European Central Bank policymakers looked set to deliver another interest rate increase on Thursday as their fight against eurozone inflation reaches the one-year mark with consumer prices still rising fast.
Key rates have since risen by four percentage points, and"virtually everyone" expects a fresh quarter-point increase at Thursday's meeting, German central bank boss Joachim Nagel said last week. The outlook for the ECB beyond Thursday's meeting was however less clear, as the wind looks to have gone out of the sails of the eurozone economy.
Yet consumer prices have continued to rise at a fast clip. The rate of inflation in the eurozone sat at 5.5 percent in June -- down from last year's double-digit peak but still well above the ECB's two-percent target.
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