Europe’s central bank is set to pile on another rate increase. Is it the last in a record series?

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — The European Central Bank is set to raise interest rates again Thursday. Economists are saying it could be the last hike in a rapid-fire series that started a year ago. Higher rates have been pushing up the cost of credit across the economy, slowing loans for business activity and home purchases. The idea is to cool off demand for goods that has been keeping inflation too high at 5.5%. But there are concerns the ECB might overdo it and hold back economic growth or even cause a recession. Investors will be watching for signals from ECB head Christine Lagarde about whether this is in fact the last turn of the interest rate screws.