Germany set out a plan to limit gas prices for homes and business that will need €200 billion ($195 billion) of borrowing, a move that risks keeping consumption high as shortages loom this winter.
OPEC+ has begun discussions about lowering oil output when it meets next week, as a fragile global economy continues to weigh on crude prices.
Simon Wolfson, the boss of retail giant Next Plc and a Conservative peer, appeared to blame the Tory government for a crash in the pound and a worsening outlook for UK inflation.
Federal Reserve Bank of St. Louis President James Bullard said US central bankers expect additional policy tightening in coming months and that has been understood by investors.
UK Prime Minister Liz Truss showed no sign of backing down on her economic policies that yesterday forced a dramatic £65 billion intervention from the Bank of England, blaming Russia’s war in Ukraine for the market turmoil that pushed the pound to a record low.
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