European shares set to end week higher after ECB signals end to rate hikes By Reuters

European shares set to end week higher after ECB signals end to rate hikes

The pan-European STOXX 600 index notched its biggest percentage gain in six months on Thursday following the ECB's 25 basis point hike, its 10th and likely final hike in a 14-month-long fight against inflation.

"We continue to see no cuts before September 2024 - implying a 12-month pause at 4.00% - and believe rates are still unlikely to fall back below neutral in 2025 given our ongoing concern about persistent inflation in the medium term," said economists at Deutsche Bank in a note. Overly loose budget policies risk fuelling inflation at a time when the central bank is fighting to bring it lower, said ECB policymaker Francois Villeroy de Galhau.

Investors are now focused on central bank meetings next week, with the U.S. Federal Reserve and Bank of England set to announce their rate decisions.Sweden's H&M shed 4.2% on reporting flat sales in its most recent quarter, lagging expectations as the fashion group struggles to attract customers while the cost-of-living crisis drags on.

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