may 5 reuters  ubs economists said the european central bank ecb was likely to hike interest rate by another 25 basis points bps in july lifting the benchmark for borrowing costs to 375 before taking a pause for this rate increase cycle the brokerage said in a note on thursday that inflation will likely slowly improve over the summer the ecb on thursday raised its benchmark rates by 25 bps  the smallest increase in its ratehike cycle that started last summer to 325 reporting by aniruddha ghosh in bengaluru editing by rashmi aich