European Central Bank hikes policy rate by 50 basis points
ECB expects inflation to remain 'too high for too long'
By Gokhan Ergocun
ISTANBUL (AA) - The European Central Bank increased its policy rate by 50 basis points to 3.5% on Thursday.
"Inflation is projected to remain too high for too long," it said in a statement.
The decision was the sixth consecutive interest rate hikes since July 2022.
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