The European market is declining amid gloomy prospects

On Friday, the European stock market is showing a decline amid news of an increase in the discount rate by the central banks of the region. In particular, the Bank of England raised its benchmark interest rate by 50 basis points, which was the seventh increase in a row. The Swiss National Bank put an end to the negative rate period, and the Norwegian Bank also raised the rate by 50 basis points and indicated its further increase.

The European Central Bank itself raised the rate last week. And yesterday, the US Federal Reserve followed suit, also raising the rate by 75 basis points. 

Such a massive tightening of the monetary policy of the world's central banks has increased the fears of market participants about the onset of a global economic recession. Against this background, the DAX index in Germany fell to 12.339.47, the French CAC 40 fell to 5.815.80, and the British FTSE 100 fell to 7.031.25.

Experts note that the macroeconomic outlook in Europe remains rather gloomy, as supply disruptions and the impact of the conflict in Ukraine on the cost of energy and food continue to restrain economic growth.