ECB Decision Looms as European Stocks Tread Water Amid Inflation Concerns

European stock markets were relatively flat on Thursday as investors awaited an expected interest rate hike from the European Central Bank (ECB) and comments from President Christine Lagarde.

The pan-European STOXX 600 index was steady at 639.79 points, with most regional markets trading in tight ranges after a big selloff the day before.

The ECB is expected to raise its benchmark interest rate by 25 basis points to 2.5%, and signal that it's ready to tighten further if inflation doesn't improve.

Oil prices eased on Thursday, but Brent crude remained above $100 a barrel as traders braced for supply disruptions after the US and Iran launched their largest wave of attacks on shipping since their six-month conflict began.