ECB hikes Eurozone rates a quarter-point to 4.25%

The European Central Bank has opted for a quarter-point rise in interest rates to 4.25%. The move,...

The European Central Bank has opted for a quarter-point rise in interest rates to 4.25%. The move, the first ECB rate-hike in over a year, was widely expected in the wake of official figures indicating an inflation rate at 4%. This is the highest ever rate since the Eurozone was established in 1999. ECB president Jean-Claude Trichet had further reinforced rate-hike expectations last month by suggesting a focus on controlling inflation would overrule growth concerns.