The Bank of England will raise borrowing costs 50 basis points higher than was thought only two weeks ago, in two quarter-point moves, as elevated inflation proves tricker to bring down than had been expected, according to economists polled by Reuters.
Kazakhstan plans to raise taxes on mining companies and cut fuel subsidies to balance its budget, while borrowing to develop the shipping route between China and Europe bypassing Russia, Economy Minister Alibek Kuantyrov told Reuters.