FRANKFURT, Germany -The European Central Bank hiked interest rates to a 22-year high Thursday and said another increase in July was 'very likely', as it pushed ahead with its fight against inflation despite a darkening eurozone economy. The ECB's governing council increased rates by a further 25 basis points, taking the closely-watched deposit rate to 3.50 percent — its highest level since 2001. 'Inflation has been coming down but is projected to remain too high for too long,' ECB president Christine Lagarde said.

https://business.inquirer.net/405558/ecb-hikes-rates-to-22-year-high-and-says-not-done-yet

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