Markets
European bond yields ease after brutal sell-off as US mortgages hit 7%
European government bond yields eased on Friday morning, pulling back from a brutal sell-off earlier in the week, even as US Treasury yields pushed to fresh multi-decade highs, and mortgage rates in America hit 7%, their highest level since Donald Trump returned to office.
Economy
Bank of England holds rates at 3.75% as inflation hits five-month high
The Bank of England has kept its main interest rate at 3.75%, but three of its nine policymakers voted to raise it, exposing a divided committee as the energy shock from the Iran war pushes inflation to a five-month high of 3.1%.
Economy
Fed hikes rates for the first time since 2023 in unanimous vote
The Federal Reserve has raised its benchmark interest rate by a quarter point to a range of 3.75% to 4%, its first increase since July 2023, in a unanimous 12-0 vote that puts Chair Kevin Warsh directly at odds with the US president who appointed him.