ECB's Stark hints at standalone hike in July

The European Central Bank looks likely to raise rates only in July rather than tighten policy on a series of occasions over the coming months.

Jurgen Stark, a member of the ECB's governing board, told Bloomberg, a news agency, on Wednesday that the markets had correctly interpreted the Governing Council's comments made last week as a signal of its intent to raise rates a quarter point in July. But, he said, "we are not talking about a series of rate increases."

The euro fell slightly against the

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