Bloomberg Hungary will raise its key interest rate to a new European Union high as a standoff with the bloc over the rule of law complicates the central bank’s efforts to end its monetary-tightening cycle. Policy makers will raise the benchmark interest rate by a full percentage point to 12.75%, according to 8 out of 12 analysts in a …

  Bloomberg The Bank of England’s (BOE) stress tests are meant to provide an unlikely ‘tail risk’ scenario designed to test the resilience of British lenders. The current UK market turmoil means this year’s scenario is looking increasingly plausible. The scenario released amid a UK sell off includes the UK base rate rising rapidly to 6% in early 2023 before …

  Bloomberg Nigeria’s naira declined further to record lows in both official and unauthorised markets ahead of the central bank of Nigeria rate decision. The local currency unit weakened 1.18% in early morning trading to 436.42 against the dollar in the spot market as of 9 a.m. in the commercial capital of Lagos. It slipped to 720 a dollar in …