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ECB accounts show overwhelming inflation fears

(Reuters) – At last month’s meeting, European Central Bank policymakers appeared to be increasingly concerned that high inflation was becoming entrenched and that the risks were large enough to warrant a larger-than-marked rate hike, 7 Month meetings are displayed.

The European Central Bank raised interest rates by 50 basis points to zero last month as inflation fears mounted, surprising investors on a smaller

central bank guidance followed by an unexpectedly large rate hike after the basis point change.

“Inflationary pressures are thought to have intensified,” accounts released on Thursday showed. “Continued anchoring of inflation expectations depends on decisive action by the Governing Council on the deteriorating inflation outlook.”

ECB expected to raise interest rates by another 50 basis points next In September, even the risk of a recession is rising, as inflation is now near double digits and a looming gas shortage could push prices higher.



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