The European Central Bank lifted its benchmark interest rate by three-quarters of a point for a second time in a row on Thursday and warned more hikes were to come as it struggles to combat rampant inflation. The key interest rate at which commercial banks can borrow money from the ECB will rise to 2%, the bank announced in Frankfurt. “The Governing Council took today’s decision, and expects to raise interest rates further, to ensure the timely return of inflation to its 2% medium-term inflation target,” the ECB said in a statement. “Inflation remains far too high and will stay above the targe…