Market Views: How investors can assess the ECB hikes

The European Central Bank (ECB) raised interest rates by more than expected on Thursday July 21, as concerns about runaway inflation trumped worries about growth, even while the euro zone economy is suffering from the impact of the war in Ukraine. It was the ECB's first rate increase in 11 years. The ECB raised its benchmark deposit rate by 50 basis points to 0%. Ending an eight-year experiment with negative interest rates, the ECB also lifted its main refinancing rate to 0.50%, a…