Bank of England raises rates, says inflation set to fade

Newsletter Mar 24, 2023 [ International Business Times]( [Bank of England raises rates, says inflation set to fade]( The Bank of England (BoE) raised interest rates for the 11th time in a row on Thursday, but said a surprise resurgence in inflation would probably fade fast, prompting speculation it had ended its run of hikes. [Weil distress index shows UK companies at highest level since June 2020]( Corporate distress levels in Britain accelerated in the three months to February to their highest since June 2020, an index compiled by law firm Weil Gotshal & Manges shows.  [Learn more about Jeeng]( [EU leaders set to back steps to compete with US, China]( European Union leaders are expected on Thursday to back a revamp of the single market, simplified regulations and other steps to ensure the bloc can compete with the United States and China as an industrial leader in green and digital technologies. [EU, UN chief discuss food security, sanctions, military aid to Ukraine]( European Union leaders held talks on Thursday with U.N. [NATO rejects Russian complaints on UK uranium ammo]( Moscow on Wednesday warned of a "serious" escalation of the Ukraine crisis if London gives Kyiv the armour piercing rounds. [dianomi]( [Swiss National Bank raises rates, says Credit Suisse takeover prevented larger crisis]( The Swiss National Bank raised its benchmark interest rate by 50 basis points on Thursday and said UBS's takeover of Credit Suisse had averted a financial disaster, adding it was now critical the merger took place in a smooth and fast way. [Dollar falls for sixth day as central banks join Fed in raising rates]( The dollar headed on Thursday for its longest losing streak in 2-1/2 years after the U.S. [Stocks mixed after more interest rate hikes]( Wall Street bounced but European markets wobbled Thursday as investors weighed fresh interest rate hikes by central banks and signs of a possible pause in US monetary tightening following turmoil in the banking sector. [Yellen tries to assuage investor fears as bank stocks slide]( U.S. Treasury Secretary Janet Yellen sought to reassure jittery investors that American bank deposits were safe and promised policymakers had more firepower to battle any crisis even as bank stocks resumed their slide on Thursday. [Violence hits France in day of anger over Macron's pension changes]( Police fired tear gas and fought with violent black-clad anarchists in Paris and across France on Thursday as hundreds of thousands of protesters marched against President Emmanuel Macron's plan to raise the pension age. [Crisis in agricultural goods' availability as snow storm hits the UK in March]( The shortage in agricultural goods impacting the UK is drifting to a harsh scenario as a result of the weather condition and supermarkets' policies in attaining supply. [Apple secures patent for Apple Watch NFC tech, but it has darker side]( Apple has secured a patent for Apple Watch NFC tech that could detect whether the wearer is using an official Apple band or a cheaper accessory. [TikTok CEO grilled by U.S. lawmakers over 'dangerous' content]( U.S. lawmakers at a congressional hearing on Thursday accused TikTok of serving harmful content and inflicting "emotional distress" on young users, grilling the Chinese-owned app's CEO on the company's outsized influence on teens. [UK Workers remain divided over Hunt's Spring Budget announcements, new survey shows]( A recent survey reveals that the UK workforce is divided over Jeremy Hunt's Budget announcements, with the CEO of CV-Library stating that "personal finances remain the key driver for the overwhelming majority". [Biden, Trudeau reach deal to stop asylum seekers at unofficial crossings-sources]( The United States and Canada reached a deal aimed at stopping asylum seekers from entering the shared land border via unofficial crossings, though some details still need to be ironed out when the two sides meet, a Canadian government source and a U.S. [Singapore push for all-EV future faces a love of crazy, rich combustion]( Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garage. [Kane leads England to win in Italy, Ronaldo sets new caps record as Portugal cruise]( Kane netted his 54th goal for England in his 81st international appearance from the penalty spot in Naples after Declan Rice had fired the visitors into an early lead. You Might Like    [Learn more about Jeeng]( [IBTimes]( IBTimes will always protect your security and privacy. Please read our detailed [Privacy Policy.]( Please do not reply to this email. [Click here]( to adjust your notification preferences or unsubscribe. © Copyright 2023 IBTimes LLC. All Rights Reserved. IBTimes LLC, 33 Whitehall ST FL 7, New York, NY 10004 U.S.A, New York, New York 10004, United States You may [unsubscribe]( or [change your contact details]( at any time.