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Rate Hike Necessary Due to Rising Inflation Expectations, Says ECB's Draghi |
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European Economy |
Written by CEP News |
Jul 04 08 12:29 GMT |
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(CEP News) Frankfurt - Referring to the European Central Bank's decision to raise its main refinancing rate 25 basis points to 4.25% on Thursday, ECB Governing Council member Mario Draghi said the rate hike was necessary due to rising inflation expectations.
Speaking in Mirandola, Italy on Friday, Draghi highlighted that the ECB had broadly flagged its intentions regarding a rate hike in July and that the decision to raise rates was unanimous. By Todd Wailoo,
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, edited by Stephen Huebl,
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