European shares opened lower and US futures were mixed on Thursday, hours before the European Central Bank was expected to raise interest rates in an attempt to dampen inflation.
The regional Stoxx Europe 600 index lost 0.2 per cent in early trading and is now down 15 per cent for the year. Germany’s Dax fell 0.4 per cent and London’s FTSE 100 added 0.4 per cent.
Despite growing economic problems in the eurozone, the ECB’s governing council is on Thursday expected to raise borrowing costs by 0.75 percentage points to 1.5 per cent — pushing the deposit rate to its highest level since January 2009. Inflation in the euro area hit 9.9 per cent in the year to September.