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ECB minutes confirm hawkishness amid growing concerns about growth
At the European Central Bank's July meeting, the central bank hiked interest rates by 25 basis points before stopping the autopilot, with President Christine Lagarde stressing that both a pause and a rate hike were possible at the September meeting. The just-released minutes of this July meeting give some background to these decisions. The minutes show an ECB that was still more concerned about inflation not returning to target than an economy falling into recession. Here are some key phrases from the minutes: “Headline inflation on an annualised three-month over three-month basis was about 2% in June, reflecting ... (full story)