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ECB opts for smaller rate hike but inflation still 'far too high'
ECB opts for smaller rate hike but inflation still 'far too high'
by  AFP

The European Central Bank opted for a smaller interest rate rise of half a percentage point on Thursday but warned it expects "significantly" further hikes as red-hot inflation was still "far too high". "Interest rates will still have to rise significantly at a steady pace," they said.

Bank of England lifts interest rate to 14-year high
Bank of England lifts interest rate to 14-year high
by  AFP

The Bank of England on Thursday hiked its interest rate by half a point to 3.5 percent, the highest level in 14 years, in a bid to cool sky-high inflation. Paul Dales, chief UK economist at Capital Economics, said on Thursday that he expected the BoE to keep on hiking up to a peak of 4.5 percent early next year, as inflation remains at historically-high levels. bcp/rfj/raz

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