ECB urged to pause interest rate rises amid recession fears

Central bank raised rates by 0.25 percentage points in attempt to bring inflation down

The European Central Bank has been urged to pause further interest rate rises amid growing recession fears after lifting them by 0.25 percentage points to a joint record high.

Concerns that European property prices have slumped were cited by analysts among reasons for the central bank to freeze the cost of borrowing on its three key interest rates.