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European Central Bank Raises Key Interest Rate by Quarter Point
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wsj.comFRANKFURT—The European Central Bank increased its key rate by a quarter percentage point, shifting to less aggressive monetary policy tightening amid signs that the bank’s monthslong campaign against high inflation is starting to bear fruit.
The decision to move more slowly in raising borrowing costs despite persistently high inflation comes after the Federal Reserve nudged rates higher on Wednesday but signaled a pause in monetary tightening.
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