The European Central Bank is expected to increase its key interest rates by 50 basis points, although an even higher hike can't be excluded, according to a report released by Nordea Bank on Thursday, APA reports citing Teletrader.
"Most Governing Council members are preoccupied with inflation risks, and large rate hikes are set to continue... We continue to think that the ECB will hike rates by another 50 basis points at the next meeting on September 8 but would not exclude an even larger hike," Nordea's economists noted.
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