Europe's central bank weighs jumbo rate hike after Fed slows

The European Central Bank is deciding how big to go with its interest rate hike. The bank could go with a half-point increase Thursday, the seventh jumbo boost in a row. Or it could slow down the pace with a quarter-point increase, following the U.S. Federal Reserve's decision a day earlier. It's a balancing act. Higher rates are aimed at squelching inflation but can also slow economic growth. The central bank for the 20 countries that use the euro is trying to get inflation of 7% headed toward its goal of 2%. Spikes in food prices are causing new problems for households as energy prices have fallen.