ECB announces intention to reduce inflation by all means

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The European Central Bank (ECB) is poised for a possible technical recession coupled with high inflation that needs to be slowed down, ECB Vice President Luis de Guindos said on Friday, Report informs.

"We will do everything necessary to bring inflation down to our medium-term target of 2%," he said.

In early September, the ECB's Governing Council raised its base interest rate by 75 basis points for the first time in its history.

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