European shares edge higher ahead of ECB rate decision

European shares inched higher on Thursday, with investors cautious ahead of the European Central Bank’s rate decision where it is likely to raise interest rates for a tenth consecutive time.

Markets are now pricing in a 65% chance of a 25-basis-point hike that could take Europe’s key interest rate to a record peak, up from around a 40% chance on Monday.

Analysts and investors had been leaning towards a pause in the ECB’s rate hike until Reuters reported on Tuesday that the central bank was set to raise its forecast for inflation next year to more than 3%.

Fidelity European Trust PLC (LON:FEV) aims to be the cornerstone long-term investment of choice for those seeking European exposure across market cycles.

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