ECB chief economist to propose official case for half-point rate hike

This would be double the quarter point the ECB outlined last month, due to worsening inflation

ECB chief economist Philip Lane

The European Central Bank may consider raising interest rates on Thursday by double the quarter-point it outlined just last month because of the worsening inflation backdrop, according to people familiar with the situation.

Such a move would mark a sharp deviation from guidance that the majority of governing council members have stuck to since it was laid out at the June 9 policy meeting and would bring the ECB more in line with the global drive for outsized hikes.