Inflation accelerated further in June, to 9.4% year-on-year, a 40-year high. Some analysts even consider that a 75-basis point rise is a possibility. On Tuesday, the Australian central bank raised rates by 50 basis points.

The FTSE 100 index was flat on Thursday, ahead of the decision. Shares of Unilever fell 0.8%, after it was announced that Unilever stopped paying Ben & Jerry’s board members, due to a dispute over the brand’s efforts to stop selling its ice creams in the occupied Palestinian territories.

 

Things to read today:

Truss attacks on the Treasury highlight Tories’ deeper failure (Financial Times)

BOE Weighs Historic Rate Rise and Recession Risk (Bloomberg)