ECB lifts rate, and more rises may come

Policymakers at the European Central Bank have warned that key interest rates could go up further after they were raised by an unprecedented 0.75 percentage point in a bid to meet the bank's 2 percent inflation rate target.

Many policymakers saw a growing probability that they will need to further raise the rates to a "restrictive territory" level, or level of rates that will force the economy to slow, Reuters cited five anonymous sources as saying.

This would most likely happen if the ECB's first inflation projection for 2025, due to be published in December, is still above 2 percent, the sources said.