ECB to cross 2008 territory with hike defying slump risk ...Qatar

The European Central Bank (ECB) in the coming week will tread into territory last visited in the run-up to the global financial crisis as it raises interest rates during what looks likely to be a recession. It was in July of 2008, just as the euro area began four quarters of contraction, that the Governing Council raised borrowing costs for the first time in more than a year, only to reverse course soon after as the collapse of US investment bank Lehman Brothers inflicted unprecedented market turmoil. This time, officials are confronting far higher inflation, stoked by risks of a different order as the energy crisis incited by the Russia’s war in Ukraine raises living costs and crushes econ

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