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. Last Updated: 07/27/2016

ECB on Rate Raise

FRANKFURT, Germany -- The European Central Bank said last week's rate rise is expected to help limit any possible market volatility at the year-end due to the millennium bug, or Y2K computer problem.

The half-point rise in the ECB's three key rates, including its main refinancing rate, which now stands at 3.00 percent, should also strengthen expectations that economic growth will continue without sparking inflationary pressure, the Central Bank wrote in its November monthly report.