The Bank of England needs to slash interest rates and pump £50billion into the economy to prevent a full-blown depression as the banking crisis intensifies, experts warn.
Hotter inflation is something that will continue to spook markets." Europe's technology index was the top decliner among STOXX 600 sectors, down 1.7%, with chip stocks ASM International N.V. and Nordic Semiconductor among those posting the biggest losses. Keeping London's FTSE 100 afloat and limiting declines on the STOXX 600, UK-based consumer goods giant Unilever rose 1.3% after announcing a new chief executive officer.
The dollar clung to modest gains against the euro on Friday after data showed falling U.S. consumer spending and cooling inflation, and as investors awaited a slew of central bank meetings next week.
The dollar clung to modest gains against the euro on Friday after data showed falling U.S. consumer spending and cooling inflation, and as investors awaited a slew of central bank meetings next week.