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ECB Signals Gradual Rate Hikes Despite Stubborn Inflation

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SINTRA, Portugal—European Central Bank President Christine Lagarde said the bank would raise interest rates gradually over the coming months, veering from a global push toward faster rate increases as inflation broadens and intensifies around the world.

Speaking at the ECB’s annual economic policy conference in Portugal on Tuesday, Ms. Lagarde said Europe’s inflation problem was deepening, but warned that the region also faced weaker growth prospects related to the war in Ukraine.

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