ECB rate hike plans clouded by banking turmoil

Published by
Reuters UK

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -European Central Bank policymakers are meeting on Thursday amid exceptional turmoil in financial markets that could force it to ditch plans for another hefty interest rate hike as fears of a fresh financial crisis crowd out inflation worries. Having raised interest rates since July at its fastest pace on record to curb inflation, the ECB had effectively promised another 50 basis point (bps) increase for Thursday and signalled further moves in the months ahead. But the collapse last week of Silicon Valley Bank in the United States has …

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