European markets expected to open higher as investors digest central bank announcements

European markets are expected to open higher Friday as investors process the raft of central bank decisions announced Thursday.

The European Central Bank moved its key interest rate from 1.5% to 2% on Thursday and said it would start to shrink its balance sheet by around 15 billion euros ($15.9 billion) every month from March 2023 to the end of the second quarter of the year.

The Bank of England and the Swiss National Bank also opted to increase their interest rates by 50 basis points as Europe tries to grapple with high inflation.

Euro zone shares posted their worst daily performance in six months following the raises.

The rate increases follow similar moves by the Fed, which raised its benchmark interest rate to the highest level in 15 years Wednesday.

U.S. stock futures were flat Thursday evening as investors responded to data that elevated concerns of an imminent recession and looked ahead to a slate of Federal Reserve speakers scheduled for Friday.

Asia-Pacific markets traded mostly lower as recession fears grow.

This report’s information was first seen on CNBC; to read more, click this link.