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European Central Bank President Christine Lagarde is due to give a press conference following the bank's latest monetary policy decision.

The ECB on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%.

In a statement, it pledged to "stay the course in raising interest rates significantly at a steady pace" and, in unusually firm language, said it intended to hike by another 50 basis points in March.

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