ECB looks set to slow pace of interest rate hikes next week       

Markets anticipate a 50 basis point, or half point, rate hike with inflationary pressures finally show signs of abating

European Central Bank chief economist Philip Lane believes record price growth will start to subside next year.

The European Central Bank meets next Thursday and looks set to slow the pace of aggressive interest rate hikes as inflationary pressures finally show signs of abating.

It has raised rates by a total 200 basis points, or 2%, since July, its fastest pace on record, to contain red hot inflation.