📆 Wednesday, June 21
► UK Inflation remains at 8.7%, 0.3% higher than consensus. This unexpected high reading has traders predicting further interest-rate hikes from the Bank of England, potentially reaching levels not seen since the beginning of the century.
► Markets are expecting the BOE’s key rate to reach 6% by December / give even 6.25% a one-in-four chance – it would be the highest rate since 1998. Last week, Fed policymakers held interest rates but their forecasts imply one or two additional hikes may be needed. Real estate and utility stocks were among the worst performers.
► European equities fell on continued consumer price pressures in the U.K., which are prompting caution among central banks around the world as they battle inflation and do not point to an immediate end to their tightening cycles.
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