The European Central Bank must tread carefully at upcoming meetings after signaling its determination to fight record inflation with a jumbo interest-rate increase this week, according to Governing Council member Mario Centeno. While the decision to accelerate hikes was “very important,” officials must “remain predictable and acting at the margin in as small steps as possible,” the Portuguese central bank chief said in an interview in Prague. “The worst-case scenario for a policy maker is to be seen going back and forth in decisions and going after the data,” he said. Centeno spoke a day after the ECB lifted its key ... (full story)