FRANKFURT, June 9 ― The European Central Bank confirmed today it will end a long-running bond buying scheme on July 1 and signalled a string of interest rate hikes from July as it battles stubbornly high inflation.
It aims to stop rapid price growth from seeping into the broader economy and becoming perpetuated via a hard-to-break wage-price spiral. “The Governing Council intends to raise the key ECB interest rates by 25 basis points at its July monetary policy meeting,” the ECB said.
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