The European Central Bank will raise interest rates again on Thursday and likely reel in a key subsidy to commercial banks, taking another big step in tightening policy to fight off a historic surge in inflation. Fearing that rapid price growth is becoming entrenched, the ECB has already raised rates at the fastest pace on record, and there is little let-up in sight as unwinding a decade worth of stimulus could take it well into next year and beyond. The ECB is almost certain to raise its 0.75 per cent deposit rate by 75 basis points – for a cumulative 2 percentage-point increase in three meetings – and signal that ... (full story)