Trichet on predicted path

ECB delivers sixth rate rise in 12 months

The European Central Bank delivered its sixth rise in borrowing costs in 12 months on December 7, raising its economic growth forecasts and cutting its inflation projections, but signalling a more cautious approach to further rate increases. The widely predicted 25-basis points rate increase lifted the ECB’s benchmark refinancing rate to 3.5 percent, the highest level for official rates in the 12-member Eurozone since 2001. But speaking at a press conference following a meeting of the bank’s 18-...

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