GBP

The Bank of England on Thursday raised interest rates for the third consecutive meeting as the Russia-Ukraine conflict is expected to keep inflation higher for longer.

Currency markets have not escaped the steep losses and wild swings seen across asset classes in recent weeks.

U.K. Prime Minister Boris Johnson has so far resisted calls to resign despite public anger over a long and growing list of alleged lockdown breaches.

It comes shortly the latest disclosure that an event was held during lockdown to celebrate Johnson’s birthday on June 19, 2020.

U.K. Prime Minister Boris Johnson’s position is looking increasingly vulnerable as a furor over lockdown ‘parties’ continues.

A scandal over “parties” held at Downing Street, an allegedly in other government departments during Covid lockdowns, could bring down Johnson’s leadership.

U.K. inflation hit a 10-year high in November as the Consumer Price Index rose by an annual 5.1%.

JPMorgan on Monday upgraded U.K. stocks to “overweight,” ending years of caution on British equity markets.

Bank of England Governor Andrew Bailey is giving a press conference after the bank’s latest monetary policy decision.

Markets had been uncertain as to whether the Bank would set off on the path toward monetary policy normalization on Thursday or at its next meeting in mid-December.

European stocks closed higher on Thursday as markets reacted to the U.S. Federal Reserve’s announcement.

European stocks closed mixed on Monday, with German election results seen eliminating a key market risk for investors in the region.

European stocks closed lower on Friday as investors reacted to central bank policy decisions and monitored developments surrounding China Evergrande Group.

It comes after U.K. economic growth slowed in July and consumer price inflation saw its largest month-on-month increase since records began in January 1997.

European stocks closed higher Friday as traders monitored issues such as global monetary policy, the delta Covid variant and China’s tech crackdown.

Bank of England policymakers voted unanimously to keep the main lending rate at a historic low of 0.1%, where it has been since March 2020.

The Bank of England on Thursday kept its monetary policy unchanged, but vowed to monitor rising inflation as the U.K. economy emerges from its Covid-induced slump.

European stocks retreated on Friday, as global markets monitor falling commodity prices while continuing to digest a hawkish pivot from the Federal Reserve.

Tensions and old enmities between the four nations of the U.K. could be exposed in several key votes Thursday.

U.K.-based exporters are facing extra bureaucracy and costs in 2021 as they experience the new post-Brexit trading arrangements.