Wall Street

Stocks, euro slip as ECB set to join rate hike club

Published by
Reuters UK

By Marc Jones LONDON (Reuters) – Benchmark European borrowing costs hit an 8-year high on Thursday and the euro fell as the European Central Bank signalled it will hike euro zone interest rates next month for the first time in a decade. While the ECB’s decision was widely expected by the markets for weeks, the possibility of a larger increase in interest rates from September weighed on sentiment at a time when the eurozone economy is grappling with slowing growth and soaring inflation. “Markets currently point to an ECB policy rate peaking above 2%. We think this would make monetary policy res…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street