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4 minute readOctober 27, 20222:33 PM GMT+2Last Updated 22 min agoECB raises interest rates again, trims bank subsidies
By Balazs Koranyi
and Francesco Canepa
Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang Rattay
Summary
Raises rates by 75 bpsMakes terms of three-year bank loans less favourableLagarde may discuss plans to wind down bond holdingsLagarde news conference at 1245 GMT
FRANKFURT, Oct 27 (Reuters) - The European Central Bank raised interest rates again on Thursday and signalled it was keen to start shrinking its bloated balance sheet, taking another big step in tightening policy to fight off a historic surge in inflation.
Worried that rapid price growth is becoming entrenched, the ECB is raising borrowing costs at the fastest pace on record, with further hikes almost certain as unwinding a decade's worth of stimulus will take it well into next year and beyond.