By Krista Hughes 53 minutes ago FRANKFURT (Reuters) - The European Central Bank raised interest rates for the first time in more than a year on Thursday, in a widely expected quarter percentage-point move which took benchmark rates to 4.25 percent, the highest level since September 2001.The ECB acted after euro zone inflation accelerated to 4.0 percent year-on-year last month, more than double the bank's medium-term goal. ECB President Jean-Claude Trichet will explain the decision at a news conference at 8:30 a.m. EDT.
"This move is largely a symbolic gesture aimed at getting inflation expectations down," said Dario Perkins, European economist at ABN Amro.
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