The biggest single rate hike in the history of the European Central Bank and Liz Truss’s energy bill support package are the major areas of focus for traders today.
A rise of 0.75% took rates to their highest level since 2011 after the ECB ended eight years in negative territory with a 0.5% hike in July.
Sterling yesterday hit a 37-year low of $1.14 but has steadied since as traders focus on the huge public finances impact of the new prime minister’s plan for business subsidies and freezing of household bills at £2,500.
