The European Central Bank hiked interest rates by 50 basis points on Thursday, in line with its guidance in February, as it expects inflation to remain high for too long. The bank also said policymakers were closely monitoring the financial market turmoil triggered by the banking sector crisis in the US and Switzerland.
The central bank assured that its toolkit is fully equipped to ensure sufficient liquidity support to the euro area financial system when needed.
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by Jyotsna V
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