Sumary of ECB leaves rates at record lows in 2% inflation push; US jobless claims rise – as it happened:
- The European Central Bank has pledged to maintain its record low interest rates until eurozone inflation is firmly at its new 2% target.
- At its first meeting since its strategy review, the ECB said it would maintain “persistently accommodative monetary policy stance” to hit its goals.
- That could net the government a maximum £1.2bn based on the current share price, which would be on top of any additional bulk share sales the government chooses to launch over the next year.
- British Gas profits more than double after home workers feel the cold A Chinese billionaire has been granted planning permission to construct an eight-storey, 5,760-sq metre (62,000-sq-ft) private palace overlooking Hyde Park, central London.
- Chinese tycoon gets go-ahead to build vast central London ‘palace’ Goodnight.
- Fellow consumer goods giant Reckitt Benckiser (-2.4%) took a knock too, with housebuilder Persimmon (-4.3%), miner Rio Tinto (-2.1%) and Primark owner AB Foods (-1.9%) all lower.
- Speaking at a press conference after today’s monetary policy meeting, she explained that the service sector recovery could be more affected by Delta: “We expect manufacturing to perform strongly even though supply bottlenecks are holding back production in the near term.
- ” Lagarde also insisted that the outlook for inflation in the medium term is subdued — with the ECB pledging not to tighten policy until it sees inflation firmly at 2% in the medium term.