By Leigh Phillips

The European Central Bank is on Thursday (7 April) likely to increase its interest rate for the first time since mid-2008, aiming to keep a lid on rising inflation in the eurozone.

Analysts expect a moderate hike from the current 1.0 percent to 1.25 percent after inflation jumped to 2.6 percent in March in the countries that employ the single currency, up from 2.4 percent the previous month.