European Central Bank to finally join global rate-hike club

The European Central Bank is about to raise interest rates for the first time in 11 years, joining peers around the world in confronting a historic spike in inflation after months of standing on the sidelines.

With soaring prices an ever-growing concern for households, companies and governments across the 19-nation euro zone, the ECB may even deviate from guidance by considering a hike of double the planned quarter-point at Thursday’s meeting.