The European Central Bank President, Christine Lagarde, announces that "further normalisation of interest rates will be appropriate" and that the "future policy rate path will continue to be data-dependent". The ECB has lifted its key interest rates by a surprise 50 basis points, its first hike since 2011 and more than expected as the eurozone grapples with rampant inflation and a looming energy crisis. SOUNDBITE by Christine Lagarde, President of the ECB

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