Lagarde Calls ECB Hike ‘No Brainer’ as Markets Bet on More Ahead

The European Central Bank lifted interest rates for the second time since the Iran war broke out, with a renewed advance in oil prices prompting investors to boost bets on further hikes.

European shares edged higher after their sharpest one-day decline in two months, as investors awaited an expected ECB rate hike and Christine Lagarde’s comments on inflation. Rising oil prices above $100 a barrel remained a key concern for markets.