Europe’s central bank hikes interest rates again even as threat of recession grows

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — The European Central Bank has piled on a 10th straight interest rate increase. It’s pressing forward in its fight against stubbornly high inflation that’s been plaguing consumers, even as worries grow that higher borrowing costs could help push the economy into recession. The increase Thursday of a quarter-percentage point comes as central banks around the world try to judge how much anti-inflation medicine is too much. They’re trying to figure out what’s the right point to halt their swift series of rate rates before the economy tips into a downturn and people lose their jobs.