Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Pound briefly touched a record low against the dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it … Read more

Britain bets all on historic tax cuts and borrowing, investors take fright

Register now for FREE unlimited access to Reuters.com Register Kwarteng cuts the top rate of income tax in a dash for growth Huge increase in UK government debt issuance planned Gilts suffer the biggest slump in decades Pound falls to a new 37-year low against the dollar LONDON, Sept 23 (Reuters) – Britain’s new finance … Read more

Central banks raise rates again as Fed drives global inflation fight

Rates raised from Britain to Indonesia after the Fed moved Investors price in bigger hikes from ECB Japan steps in as yen plummets Emerging market currencies under pressure FRANKFURT/WASHINGTON, Sept 22 (Reuters) – Global central banks continued raising interest rates on Thursday, following the US Federal Reserve in a fight against inflation that is sending … Read more

Europe races to prepare for energy crunch this winter

Spain may shut energy-intensive industries at peak times France prepares to send gas to Germany in October Germany to sign LNG contracts in UAE Berlin still working on Uniper bailout BERLIN/LISBON, Sept 19 (Reuters) – Germany was pressing on Monday to secure liquefied natural gas contracts with Gulf producers and other European states outlined measures … Read more

The EU seeks $140 billion to insulate consumers from the energy crisis

Russia has steadily cut gas supplies to Europe European governments fork out billions to help businesses EU’s von der Leyen says aid so far ‘will not be enough’ BRUSSELS/DUESSELDORF, Sept 14 (Reuters) – The European Union’s executive outlined plans on Wednesday to raise more than $140 billion from energy firms to help shield households and … Read more