Rolling coverage of the latest economic and financial news
Sterling drops after Bank of England boss hints at ‘aggressive’ rate cutsCarmakers ramp up pressure on chancellor for EV sales subsidies
The pound jumped as traders reacted to Huw Pill’s call for a cautious approach to interest rate cuts.
It rallied as high as $1.3164, up from $1.312 last night,before settling back at $1.315
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EU should spare carmakers from ‘punitive’ emissions fines, says Scholz
Record number of Chinese tourists expected to visit Australia this summer as market passes pre-pandemic peak
Musk’s conflicts of interest as Trump adviser could benefit him, experts warn