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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