Global shares drifted on Monday from 14-month highs hit last week, as investors awaited testimony from U.S. Federal Reserve Chair Jerome Powell in markets that remain dominated by monetary policy bets.
Bets that the Bank of England would raise interest rates to a 15-year high this week, as inflation continues to run at more than four times its target, have bolstered the pound.
Money markets now put a 75% chance of the BoE opting for a 25 basis point (bp) rate rise and a 25% likelihood of a 50 bp hike.
- ECB's Schnabel: Risks To The Inflation Outlook Are Tilted To The Upside
- ECB’s Lane: Another Hike in July Seems Appropriate and Then We Will See in September
- SNB to raise rates a final 25 bps to 1.75%, but risk of higher peak - Reuters Poll
- UK 2-year Gilt yields rise to 5% for first time since 2008, up 7 basis points on day
- Dollar nudges up, UK pound near 14-month highs ahead of BoE decision
- Blinken meets Xi during pivotal China trip to salvage frosty ties
- McDonald's Japan hikes prices in city centres as costs bite
- France targets 10 billion euros in budget savings - minister
- Berlin to sign agreement with Intel after chip plant talks
- Secretary of State Antony Blinken will meet President Xi Jinping today in Beijing
- China seen cutting key lending benchmarks as economy slows
- Berkshire Hathaway adds to Japan trading company holdings
- Asian stocks pause rally, eyeing China stimulus, Powell testimony
- China's top diplomat Wang Yi on the wires after meeting with Blinken
- The @Newsquawk Europe Market Open: US-China talks in focus US markets closed ECB speak due
