(Reuters) -European shares slipped on Thursday after the European Central Bank (ECB) raised borrowing costs as expected and signalled more policy tightening in its fight against sticky inflation.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 13, 2023.
REUTERS/Staff/ FILE PHOTOThe continent-wide STOXX 600 index closed 0.1% lower after falling as much as 0.8% earlier in the day.
The ECB increased the deposit rate by 25 basis points to 3.5%, the highest level in 22 years.
This was the central bank’s eighth successive raise.
Persons:
Christine, Lagarde, ”, Stuart Cole, Halma, SoftwareOne
Organizations:
Reuters, European Central Bank, REUTERS, Staff, ECB, Equiti, U.S . Federal Reserve, ASOS, Bain Capital Private Equity, Informa
Locations:
Frankfurt, Germany, Swedish, British, Swiss