Market Wire: Euro Flatlines After ECB Hikes as Expected
The European Central Bank lifted all three of its benchmark rates by 75 basis points this morning, matching market expectations as it battles against rising inflation pressures. The statement announcing the decision said, “Based on its current assessment, over the next several meetings the Governing Council expects to raise interest rates further to dampen demand and guard against the risk of a persistent upward shift in inflation expectations,” and “future policy rate decisions will continue to be data-dependent and follow a meeting-by-meeting approach”. Policymakers said “inflation remains far too high and is likely to stay above target for an extended...