BNY’s Bob Savage explains that the United Kingdom (UK) government’s targeted cost-of-living package seeks to cushion households from Iran-related energy shocks while avoiding a repeat of large-scale bailouts.
The Euro’s (EUR) frail recovery attempt against the British Pound (GBP) has been capped below 0.8660, as the pair retreats on Thursday, testing one and a half week lows below 0.8642 at the time of writing.
Bank of England (BoE) Governor Andrew Bailey said that financial market tightening gives the central bank some time to assess whether to raise rates or leave them where they are. Bailey made the comments while speaking to the Treasury Committee on Wednesday.