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Lagarde Bids for ECB to Defy History With Third-Time-Lucky Hike

  • 2008 and 2011 episodes provide reminder of costly past errors
  • Europe is facing ‘stagflationary pressures,’ Praet observes
Christine Lagarde
Christine LagardePhotographer: Alex Kraus/Bloomberg

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The European Central Bank reckons it can defy a record of aborted interest-rate hikes as it raises borrowing costs while confronting a recession threat and Italian political turmoil.