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26th Sep 2022

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ECB's Lagarde warns rate hike will not cut gas price

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"I cannot reduce the price of energy. I cannot convince the big players to reduce gas prices. Monetary policy is not going to bring down the price of energy," ECB president Christine Lagarde said on Thursday at a press conference following the bank's decision to raise its its key interest rates by 75 basis points.

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Italians cast their ballot yesterday on Sunday and chose a rightwing majority parliament, which is expected to have a turbulent relationship with Brussels.

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