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Rates set to rise as ECB battles with record inflation (Irish Examiner)

04 November 2011
Interest rates will increase next month when the European Central Bank is expected to up the main lending rate by 0.25% to 4.25% to battle record eurozone inflation rates of 3.5% putting pressure on Irish business and homeowners.
Four of Ireland’s top economists expect the ECB to increase rates in July, with Friends First economist Jim Power the only dissenting voice. However, all five agree that if rates increase next month they will not rise again this year.
And yesterday, European Central Bank executive board member, Juergen Stark, said eurozone inflation is intolerably high and now is an appropriate point to review interest rates.