The European Central Bank raised its key interest rate by a quarter percentage point to 2.75 percent on Thursday in a move aimed at keeping inflation at bay.

Analysts have said such an increase could help settle the world's stock markets, which have been volatile since the Federal Reserve Bank head suggested more rate increases could be ahead in the U.S.

But bank watchers will be waiting to hear if ECB President Jean-Claude Trichet provides any hints about another increase for Europe in the coming months.

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