The European Central Bank has confirmed that it will raise interest rates by a bumper 0.75%. The Euro once again lost parity with the dollar, falling 1% to $0.99.
Lloyds, the UK’s biggest mortgage lender, reported a 17% decline in third quarter underlying profits to £1.73 billion as it increased bad debt provisions compared with a year earlier.
Shell’s adjusted earnings figure of $9.45 billion (£8.1 billion) was more than double a year earlier but down 18% on the previous quarter.
Average gas price decreased by 60% in the week to 23 October 2022, according to economic activity data published by the ONS. However, prices remain 152% above the level of the pre-coronavirus baseline in February 2020, the ONS said.
