By Bansari Mayur Kamdar (Reuters) -Shares in British banks rallied on Thursday, lifting the blue-chip FTSE 100 after the Bank of England stunned investors with an interest rate hike, the world’s first major central bank to do so since the pandemic hit the global economy last year. The FTSE 100 gained 1.3%, breaking a six-day …
British banks lift FTSE 100 after BoE raises rates Read More »
By Anisha Sircar and Susan Mathew (Reuters) -European shares had their best day in more than a week on Thursday, led by gains in banks and miners after the European Central Bank promised continued support to the economy, still choosing to incrementally withdraw stimulus. The pan-European STOXX 600 index rose 1.2%, while the euro zone …
By David Milliken, Andy Bruce and William Schomberg LONDON (Reuters) – The Bank of England on Thursday became the world’s first major central bank to raise interest rates since the coronavirus pandemic hammered the global economy, and warned inflation was likely to hit 6% in April – three times its target level. Surprising investors for …
BoE becomes first major central bank to raise rates since pandemic Read More »
By Iain Withers and Carolyn Cohn LONDON (Reuters) – The explosion in DIY investing since the start of the pandemic has led to a scramble among Britain’s more traditional asset managers and banks to buy or build online platforms that give consumers more direct control of their investment portfolios. While the ‘meme stock’ frenzy that …
Pandemic have-a-go investors force shake-up in UK wealth market Read More »
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -The European Central Bank took another small step in rolling back crisis-era stimulus on Thursday but promised to hold down borrowing costs next year and even kept the door open to restarting emergency support. With the euro zone economy near its pre-pandemic size, pressure is mounting on …
By Stefano Rebaudo (Reuters) -Sterling jumped to December highs versus the euro and the dollar on Thursday after the Bank of England surprised investors by hiking interest rates, while the European Central Bank announced a reduction of its monetary stimulus. Britain became the first G7 economy to hike rates since the onset of the pandemic, …
Sterling jumps to December highs after BoE raises rates Read More »
FRANKFURT (Reuters) – The European Central Bank remains very unlikely to hike interest rates next year, its president Christine Lagarde said on Thursday while not ruling out that borrowing costs could rise. “Under the present circumstances… as I have said before, it is very unlikely that we will raise interest rates in the year 2022, …
ECB’s Lagarde says 2022 rate hike unlikely, but leaves door open Read More »
FRANKFURT (Reuters) – The European Central Bank raised its inflation projections on Thursday but cut its 2022 growth outlook as the COVID-19 pandemic and supply chain disruptions slow the euro zone’s economic recovery. The ECB now sees inflation above its 2% target this year and in 2022 but holding below it in the following two …
ECB raises inflation projections, cuts 2022 growth view Read More »
LONDON (Reuters) -The benchmark price in the British carbon market on Thursday hit its highest level since the market launched in May. The benchmark December 2021 UK Allowance (UKA) contract was up by 2.97 pounds to 77.20 pounds per tonne by 1345 GMT. Britain launched its own emissions trading scheme (ETS) on May 19 to …
Benchmark UK carbon allowances hit record high of 77.20 pounds/tonne Read More »
LONDON (Reuters) – Bank of England Governor Andrew Bailey said the British central bank had been compelled to raise interest rates on Thursday, even as the Omicron variant of the coronavirus hits the economy, because inflation pressures were turning more persistent. “We’ve seen evidence of a very tight labour market and we’re seeing more persistent …
BoE had to raise rates to tackle inflation pressure, Bailey says Read More »
