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Boardroom: ECB rise on way
The members of the European Central Bank governing council are usually sunning themselves in some of the more southerly members of the eurozone at this time of year, so the fact that instead they will be dragging along to ECBHQ in Frankfurt this Thursday means another interest-rate rise is in prospect. Nothing in the economic data since the last council meeting will have done anything to dissuade the ECB that another rise is warranted to hold down inflation as growth picks up.
The German economy is still on an up-trend, while some analysts even point to a ‘‘Forza Italy’’ effect in improving the consumer mood in Italy. So another quarter-point rise is likely, bringing the rate to 3 per cent.
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