ECB slows rate hikes, but signals it’s far from done

The European Central Bank delivered a half-point rate increase Thursday, slowing the speed of its monetary tightening after a pair of larger rate moves. But policy makers emphasized that market participants should prepare for a series of rate hikes to come.

“We need to take this fight and continue the battle against inflation, so we will continue that at a steady pace,” ECB President Christine Lagarde told reporters at a news conference following the decision.

“So…