ECB tipped to hike rates again, as Fed hits pause

The European Central Bank is expected to again hike interest rates on Thursday and signal that the fight against inflation is not over yet, analysts said, even as the eurozone falls into recession.

With inflation slowing but still three times above the ECB's two-percent target, there is little doubt the Frankfurt institution will raise borrowing costs for an eighth consecutive time.

A 0.25-percentage-point hike "looks like a done deal", Capital Economics economist Jack Allen-Reynolds said.