The US Federal Reserve last night said it would start scaling back its massive pandemic stimulus package as countries around the world grapple with rising inflation.
America’s central bank plans to start tapering the £88billion a month bond-buying programme it launched last year to inject money into the economy.
The much-anticipated decision by the Bank of England’s Monetary Policy Committee on UK interest rates is due at noon today, and it shaping up to be one of the hardest to predict in years.
Markets have priced in an interest rate hike from current levels of 0.1 per cent to 0.25 per cent, but observers are split over whether the MPC will take action today or wait until later this year when more data becomes available.
Britain’s competition watchdog has ordered JD Sports to sell Footasylum after a detailed probe found that the takeover could lead to ‘a substantial reduction in competition’.
The sportswear brand responded with a statement that said the decision to prohibit the acquisition ‘defies logic’, adding that it was studying the report in detail before considering further options.
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The Bank of England’s Monetary Policy Committee will decide today whether now is the time to hike interest rates to combat rising inflation
