European Central Bank delivers half-point interest rate hike

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The European Central Bank went ahead with a planned half-point increase in interest rates but was silent on what may follow amid a banking storm that has threatened the survival of Credit Suisse Group AG

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The deposit rate was lifted to 3 per cent on Thursday – as officials have been flagging since their last meeting six weeks ago – but dropped language from its statement indicating the future path for rates.

 

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