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ECB raises rates by 25 basis points to 3.25% in inflation fight

Central bank will stop reinvesting cash in Asset Purchase Programme from July

European Central Bank (ECB) President Christine Lagarde.    © Reuters

FRANKFURT (Reuters) -- The European Central Bank raised interest rates by 25 basis points to 3.25% as expected on Thursday and said it would stop reinvesting cash from maturing debt in its 3.2 trillion euro Asset Purchase Programme from July.

The central bank for the 20 countries that share the euro has now lifted rates by a combined 375 basis points since last July, its fastest pace of tightening, but further action is still likely given mounting wage and price pressures.

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