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UK's Truss expected to freeze energy bills
UK's Truss expected to freeze energy bills
by  AFP

New British Prime Minister Liz Truss was on Thursday expected to unveil a costly plan to freeze domestic fuel bills to help ease the burden of a soaring cost-of-living crisis. Such a plan would contrast with Truss' comments during the Conservative leadership campaign, when she rejected "sticking plaster" solutions to the cost-of-living crisis such as direct government aid.

Asian markets bounce after sell-off, dollar closes on new highs
Asian markets bounce after sell-off, dollar closes on new highs
by  AFP

Most Asian markets enjoyed a rare advance on bargain-buying Thursday, tracking a Wall Street rally after a series of losses, though the dollar resumed its upward march with the Federal Reserve expected to announce another bumper interest rate hike. "Some bargain-hunting buying is to be expected after a dive like" Wednesday's, said Vandana Hari at Vanda Insights.

ECB to match historic inflation with bumper rate hike
ECB to match historic inflation with bumper rate hike
by  AFP

European Central Bank policymakers could reach for a historically large interest rate hike at their meeting on Thursday as they seek to tame soaring inflation. - 'Determination' - The July hike set the stage for policymakers to take a new "meeting-by-meeting" approach, with the ECB ditching so-called forward guidance, which had constrained its response to rising inflation.

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