European shares deepened losses on Thursday, after the European Central Bank delivered its fourth straight interest rate hike and said it expected to keep raising rates further, echoing hawkish commentary from the U.S. Federal Reserve.
by half a percentage point and, like the Fed on Wednesday, kept further hikes firmly on the table to bring runaway inflation under control.
"Even though the hike itself was as expected and slower than it was in the previous months, the communication around the decision was decidedly more hawkish than so many in the market may have expected," said Bas van Geffen, senior macro strategist at Rabobank.Earlier in the day, the Bank of England also raised interest rates by 50 basis points, which was in line with expectations, and said further increases might be needed to curb persistent inflation.
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