ECB: One more and done

The European Central Bank raised interest rates for the first time in more than a decade this week and left the door open for further hikes in a bid to combat the highest inflation on record. But the Bank also announced a new bond-buying programme to soften the blow of rising rates amid a political crisis in Italy, a deteriorating economic outlook, and fears of a new debt crisis. ING's Carsten Brzeski says the strategy is akin to stepping on the brakes and the accelerator at the same time. So can it work? What's the central bank's next move? And what does it all mean for Europe's economic outlook?