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Improved business activity casts doubt over rate cuts

Businesses across the globe broadly enjoyed an improved performance this month with activity picking up across parts of Asia and Europe, surveys showed on Thursday, giving central banks room to potentially defer cutting interest rates. Borrowing costs were raised following the COVID-19 pandemic to combat rampant inflation but the talk has now turned as to how soon - and by how much - they will fall. Elections are currently being held in India, the United States goes to the polls in November, and on Wednesday British Prime Minister Rishi Sunak called a national election for July 4.