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Stournaras on ECB: It Announced Interest Rate Hikes in June Due to Inflationary Pressures
Summary by CNN Greece
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The increase in European Central Bank interest rates in June was announced by the Governor of the Bank of Greece, Yiannis Stournaras, leaving open the possibility of further interest rate increases...More...
·Greece
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The European Central Bank (ECB) faces a major economic dilemma, trying to balance the fight against inflation with avoiding a deep recession. The institution decided to temper the rise in interest rates in June, fearing that a too restrictive policy could suffocate the European economy and trigger a sovereign debt crisis, similar to that of 2011. However, this caution is viewed with scepticism, with the risk that maintaining low oil prices and g…
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