Andrew Bailey
UK recession fears mount
Fears that the British economy is heading for recession mounted sharply after the Bank of England raised borrowing costs by more than anticipated.
The Bank of England on June 22 decided to lift its main interest rate by half a percentage point to a fresh 15-year high of 5 percent.
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Inflation fight is an ‘art,’ says Lagarde
Finding the right monetary policy response to tackle soaring inflation is an "art," European Central Bank President Christine Lagarde has said.
"It is not a science," Lagarde said on June 29 at a panel at the ECB's annual central banking conference in Portugal.
"What we are doing there is an element of art," she said.
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UK Considers New Digital Currency - Britcoin
British finance minister Rishi Sunak told the Bank of England on Monday to look at the case for a new "Britcoin", or central bank-backed digital currency, aimed at tackling some of the challenges posed by cryptocurrencies such as bitcoin.
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