European Central Bank set to hike rates for the first time in 11 years

The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday as economic prospects darken.
 

That outlook is getting murkier by the day because inflation is still accelerating and growth slowing sharply.
 

“The trade off the ECB is facing is more severe than any of the other major central banks,” said Silvia Ardagna, head of European economics research at Barclays.
 

No matter how much European Central Bank officials dismiss the prospect of starting interest-rate hikes with a half-point move this