Stocks slip as ECB prepares hike after hawkish Fed pause

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World stocks slipped from 18-month peaks and the dollar pushed higher on Thursday as traders readied for what is expected to be the eighth straight rate hike from the European Central Bank (ECB) later.

blue-chips dipped by around 0.2% , while the dollar clambered off a 4-week low against the other major world currencies as Japan's yen took a tumble ahead of a central bank meeting there on Friday.

ECB President Christine Lagarde's press conference, meanwhile, will focus on sticky core inflation "which will keep an additional hike in July on the table" and mean another is possible in September if financial conditions don't become too restrictive, he added.

 

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