Economics
UK Is Closing In on Inflation Rate With Double Digits: Eco Week
- Powell will testify to Congress after 75 basis-point hike
- Czech, Mexican and Norwegian officials will likely raise rates
Preliminary June readings of manufacturing and services are due Thursday.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
UK inflation probably reached a new four-decade high above 9% in May, underscoring the challenge for the Bank of England as it threatens faster interest-rate increases in response.