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ECB hikes rates by 75 basis points and announces new terms for European banks

Summary by Ground News
The European Central Bank announced another massive interest rate increase on Thursday. The move risks further crushing the euro-area economy, which is already feared to be on the brink of a recession. Inflation in the eurozone hit 9.9% in September compared to a year ago, driven by higher energy costs.

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Barron's broke the news in New York, United States on Wednesday, October 26, 2022.
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