So when there was a hawkish surprise, the immediate reaction was for markets to go higher," said Ankit Gheedia, BNP Paribas' head of equity and derivative strategy for Europe. Underscoring recent hawkish moves by central banks, data showed euro zone inflation surged to its highest rate on record in November, with more than half of the increase due to a spike in energy prices. The European Central Bank on Thursday slightly reined in monetary policy support, while the Bank of England hiked rates, a day after the U.S. Federal Reserve signalled plans to tighten rates in 2022.