The Federal Reserve will announce its latest decision on interest rates today following a two-day monetary policy meeting. It is widely expected that officials will raise the interest rate by half a percentage point and the markets will be listening for any comments on future action.
Sterling is slightly weaker against the euro and the dollar this morning, ahead of the Bank of England’s monetary policy meeting tomorrow. An interest rate hike is expected to tackle high inflation in the UK.
It was announced this morning that the EU is planning new sanctions against Russia. European Commission President, Ursula von der Leyen, has said that a sixth package of sanctions will be released in the coming days, which is set to include an oil embargo.
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