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Bank of England plans biggest interest rate hike in 27 years as inflation soars
LONDON, February 03: Bank of England Governor Andrew Bailey leaves after a press conference at the Bank of England on February 3, 2022 in London, England. The Bank is expected to raise interest rates for a fifth straight meeting on Thursday, but faces a difficult balancing act between supporting growth and curbing inflation. Dan Kitwood […]
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Barclays posts profit slump after being hit by costly US trade mistake
A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. Peter Nicholl | Reuters Barclays reported a second-quarter profit slump on Thursday after taking a substantial provision linked to a costly US trading error The British bank reported net profit attributable to shareholders of £1.071 billion ($1.30 billion), meeting analyst expectations of […]
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Strategist says stock market could become ‘meat grinder of desperate hope’ for dip buyers
LONDON — According to Sean Corrigan, director of Cantillon Consulting, investors looking for value in the stock market during the ongoing recession are “deluding themselves.” Fears that central banks will be forced to raise interest rates aggressively to curb inflation – at the risk of stifling growth as the global economy simultaneously takes the blows […]