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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

ECB urged to pause interest rate rises amid recession fears

ECB Inflation Recession Christine Lagarde Interest Rates the European Central Bank
ECB in Frankfurt
The European Central Bank (ECB) raised interest rates by 0.25 percentage points to curb help inflation. Photograph: Xinhua/Shutterstock

The European Central Bank has been urged to pause further interest rate rises amid growing recession fears after lifting them by 0.25 percentage points to a joint record high.

Concerns that European property prices have slumped were cited by analysts among reasons for the central bank to freeze the cost of borrowing on its three key interest rates.

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