Now Europe Wants A Rate Hike, Too

If the U.S. economy were expanding at the same rate as Europe's--barely 2% this year--nobody would be expecting the Federal Reserve to hike rates. So why are European economists and investors bracing for an increase? On Nov. 4, the European Central Bank will meet, and betting is high that the 17-member governing council will hike its key refinancing rate, now just 2.5%, to as high as 3%.

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