ECB likely to raise interest rate to 2.25%

FRANKFURT, Germany: The European Central Bank is poised to adjust the euro zone's interest rate Thursday for the first time in more than two years, likely voting for an increase to head off what it said were fears of inflation down the road. 

The bank, which controls monetary policy for the 12-nation euro zone, has sent signals over the past two weeks that its refinancing rate would be increased, likely to 2.25 percent from the 2 percent where it has been since June 2003.