The European Central Bank has raised interest rates for the 10th consecutive time to combat inflation in the struggling eurozone economy. The ECB has increased rates to a record high of 4% and believes this may be the peak, although further hikes are not ruled out completely. The Federal Reserve is concerned about inflation, but it is uncertain if they will raise rates this year. Economists believe the Fed will maintain a hawkish bias, but markets anticipate rate cuts next year. The Bank of England is mentioned, but no further information is provided.