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Central Banks Clash Over Monetary Policy

Posted on June 17, 2008

Food and energy prices are soaring everywhere. Eurozone inflation is a record 3.7%Inflation in the eurozone has a climbed to a record level amid higher food and fuel costs, official figures show. The annual rate of inflation in the 15 state zone hit 3.7% in May, according to the Eurostat statistical office.The figure is the highest since 1996, when Eurostat started using the current methodology for calculating inflation. There are concerns that price growth will keep accelerating, and the European Central Bank warned it will raise interest rates to slow inflation.The rate of inflation was up f...

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