Overnight we saw the Bank of England and the ECB lift the target rate by 50 basis points.
The UK story appears to be one where inflation is easing a little though growth prospects remain weak into the medium term. In the ECB, inflation is perhaps more troublesome, and further rate rises are anticipated. But both are seen by the market to be the peak of this raising cycle (though with risks to the upside).
http://www.martinnorth.com/
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