Stocks rose on Thursday afternoon, after a second day of volatility in which the S&P 500 swung between gains and losses. The index rose about 0.3 percent in afternoon trading. It had earlier climbed more than 1.7 percent, but gave up most of that gain before climbing again. The big swings this week have come […]
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The Bank of England is set to announce its latest interest rate decision on Thursday, with investors expecting a quarter-point raise, just a day after data showed that Britain’s inflation rate unexpectedly increased last month. Consumer prices rose 10.4 percent in February from a year earlier, up from 10.1 percent the month before, ending a […]
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Britain’s inflation rate unexpectedly rose last month, reversing its recent downward trend and potentially undermining expectations that the Bank of England was close to halting interest rate increases. Consumer prices in Britain rose 10.4 percent in February compared with a year earlier, the Office for National Statistics said on Wednesday. The rate had slowed for […]
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How to stop a global panic Andrew here. After Credit Suisse’s historic shotgun sale to UBS over the weekend, the question now is whether the 166-year-old bank is the last domino to fall — or the first. Just two weeks ago, Silicon Valley Bank, a niche midsize lender in California, went under. Now, one of […]
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One of Mr. Sunak’s objectives this year is cutting the inflation rate in half. That shouldn’t be difficult, as the Bank of England, which is charged with maintaining price stability, has already predicted that inflation would decline to 4 percent by the December. Another 2023 objective — expanding the economy — may be trickier. Next […]
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It’s a notable upgrade from the bank’s forecast in November, when it expected a contraction of 1.5 percent. Britain is expected to experience only a shallow recession, far less severe than the one after the 2008 financial crisis or in the early 1990s, because unemployment is forecast to increase less than previously thought and traders […]
Read MoreThe European Central Bank, too, is expected to raise rates on Thursday as it continues to battle inflation. This week, data showed that the annual rate of inflation for the 20 countries that use the euro fell to 8.5 percent in January, from 9.2 percent the previous month but core inflation, which excludes volatile energy […]
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