The head of the European Central Bank said Wednesday that policymakers stand ready to hike interest rates even if an expected jump in euro zone inflation proves temporary. ECB President Christine Lagarde said a "not-too-persistent" rise in inflation could trigger a hike after the bank was forced to upgrade expectations for euro zone inflation, which is now forecast to rise above the 2% target. "If the shock gives rise to a large, though not-too-persistent, overshoot of our [inflation] target,

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