- Reuters
Bank of England's Broadbent says rate cut 'possible' this summer
The Bank of England could cut interest rates in the next few months, depending on how rapidly the knock-on impact on wage growth and prices from 2022's surge in inflation eases, Deputy Governor Ben Broadbent said on Monday. Speaking ahead of his final vote in June as a member of the Monetary Policy Committee, Broadbent cited survey evidence from companies that showed a major driver of inflation pressure - strong wage growth - was likely to dissipate only slowly.
- BBC
South Africa's top court bars Zuma from standing in election
Ex-President Jacob Zuma's 15-month prison sentence disqualifies him from being a lawmaker.
- Reuters
Target lowering prices on 5,000 items in bid to lure more shoppers
Still-high food prices and borrowing costs have made cash-crunched customers more conscious of their spending on pricey items and look for cheaper products in stores and online, forcing retailers to lower prices to get more consumers to their stores. Target also faces stiff competition from larger rival Walmart that already offers products at lower prices, and last week signaled a resilient U.S. shopper, betting on easing inflationary concerns. "We know consumers are feeling pressured to make the most of their budget," Rick Gomez, chief food, essentials and beauty officer at Target, said in a statement.
