ECB mulls massive rate of interest hike amid recession threat

The eurozone inflation outlook has failed to enhance since a July rate-hike, European Central Financial institution board member Isabel Schnabel stated in an interview with Reuters, suggesting she favours one other giant rate of interest improve subsequent month at the same time as recession dangers harden. The central financial institution shocked traders with a 50-basis-point price hike final month fearing that inflation, now approaching double-digit territory, was vulnerable to getting entrenched.