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European Central Bank raises interest rates by 50 basis points to fight inflation in Europe; reference rate for its refinancing operations will stand at 2.50%, deposit rate will reach 2% and the lending facility rate will be 2.75%

BofA says US could see larger recession than Europe, as Fed has 'dirty work' of reducing labor demand to meet supply, but Europe doesn't need to cool labor market to cut inflation; Fed terminal rate may reach 5%, and European Central Bank's could hit 2.5%

European Central Bank raised its interest rate benchmarks by three-quarters of a percentage point; inflation reached 9.9% in the eurozone, driven by higher prices for natural gas and electricity

Credit Suisse sees European Central Bank hiking rate by 75 basis points in October, and rates rising to 2.5% by Q1 2023; indefinite suspension of Nord Stream 1 gas flow from Russia to Europe could mean deeper recession than expected 0.2% decline in 2023

European Central Bank raised its key benchmarks by three-quarters of a percentage point, the largest ever interest rate increase; inflation reached a record 9.1%, driven by higher prices for natural gas

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