ECB faces uncertainty over rate hike strategy amidst banking turmoil.

Credit Suisse's shares rose more than 20% after the Swiss National Bank and financial regulator, FINMA, provided the beleaguered lender with a 50 billion Swiss franc ($53.94 billion) lifeline. The European Central Bank is expected to hike interest rates by as much as 50 basis points (bps) after bond yields rose and Europe's bank shares bounced 2.3%. The last week of turmoil, which has also seen two US banks collapse, means markets now see it as roughly a 50/50 call between 50 bps and 25 bps.