The European Central Bank on Thursday plowed ahead with its plan to lift interest rates by 50 basis points, or half a percentage point, despite jitters over the banking sector, warning that “inflation is projected to remain too high for too long.”
At the same time, the ECB said future decisions would depend on economic and financial data, signaling a meeting-by-meeting approach and an abandonment of a policy of what had been known as forward guidance aimed at massaging market expectations around future moves.
The…
