The European Central Bank (ECB) on Thursday hiked its main interest rate by 0.5 percentage points to 2.5% as it battles to reduce inflation in the eurozone. The increase – the fourth consecutive rise – was however smaller than the previous two rate hikes of 0.75 percentage points each. The key interest rate in the euro currency area had been frozen at a record low of 0% for years, but rapidly rising consumer prices this year – driven by higher energy costs – led the ECB to change its policy, with rates first rising in July. In November, inflation in the eurozone was at 10%. In October, it peak…