ECB fine-tunes new crisis tool against ‘fragmentation’ ...Qatar

As the European Central Bank (ECB) prepares to raise interest rates for the first time since 2011, policymakers hope to limit “fragmentation” in the eurozone, where borrowing costs faced by different members begin to diverge. To this end, the ECB has set about designing a new crisis tool, the first details of which could be presented after the central bank’s meeting on Thursday. Lagging behind other major central banks like the US Federal Reserve and the Bank of England, the ECB is set to raise interest rates on Thursday to tackle soaring inflation. But while the eurozone’s 19 members use the same currency, they do not share the same fiscal policy with the end effect that as interest rates

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