Market Movers: ECB hikes interest rates

The ECB surprised markets by raising interest rates by 50 basis points this week, the first increase in eleven years. The hike was higher than the expected 25 basis points. The bank is battling to support the euro currency and to fight inflation in the bloc, which stands at a record 8.6%. According to ECB President Christine Lagarde, the situation is not going to get better anytime soon. #MarketMovers #ECB #InterestRates