Economics
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
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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.