ECB leaves rates at record lows in 2% inflation push; US jobless claims rise – as it happened
Rolling coverage of the latest economic and financial news
- Latest: US jobless claims rose last week
- ECB pledges accommodative monetary policy until inflation at 2%
- UK factories fear staff and materials shortages amid recovery
- BoE deputy governor: inflationary pressures likely temporary
- UK to trim its NatWest shareholding
- Shares bought during 2008 bailout of Royal Bank of Scotland
- Supermarkets struggle to stock shelves as ‘pingdemic’ havoc spreads
Time to recap.
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.
Related: Treasury to sell off further NatWest shares worth up to £1.2bn
Related: Unilever expects flat profit for the year after being hit by rising costs
Related: Number of UK factory workers rising at fastest rate for almost 50 years
Related: Bankers and advisers would net £275m from Morrisons takeover
Related: British Gas profits more than double after home workers feel the cold
Related: Chinese tycoon gets go-ahead to build vast central London ‘palace’
In the City, the FTSE 100 index has ended 30 points lower at 6968 points, down 0.45% today.
Unilever (-5.9%) dragged the blue-chip index down after warning that rising inflationary pressures were hitting its profit margins, as the cost of raw materials, packaging and transport soars.
European Closing Bell
FTSE 100 -0.46% at 6,966
STOXX 50 +0.78% at 4,058
DAX +0.58% at 15,512
CAC 40 +0.30% at 6,48
IBEX 35 +0.56% at 8,615
MIB +0.45% at 24,787
SMI -0.43% at 11,970
~ @Newsquawk
