Pressure on the European Central Bank to raise interest rate

European inflation accelerated in November to the fastest in more than six years, adding pressure on the European Central Bank to raise interest rates even as economic expansion cools.

The inflation rate in the 13-nation euro area rose to 3 percent this month from 2.6 percent in October, the European Union’s statistics office in Luxembourg said today. An index of executive and consumer sentiment fell to a 20-month low of 104.8 from 106 in October, according to a separate report.

jesus, the ECB are in a bit of a tight spot now alright

raise rates and exarcerbate effects of credit crunch or leave em be and watch inflation climb

wonder if they’ll have the courage of their convictions