The Bank of Japan has ended its negative interest rate policy, increasing the benchmark rate to 0.1%. This move marks a significant shift after 17 years of ultra-loose monetary policy, driven by persistent inflation exceeding the 2% target.
The UK's unemployment rate unexpectedly declined to 4.9% in the three months to February, driven by a rise in economic inactivity. However, wage growth decelerated to 3.6% annually, marking its slowest pace in over five years, even as it outstripped inflation.
The UK government is set to announce plans to decouple electricity prices from volatile gas markets, proposing that older renewable energy generators move to fixed-price contracts within the next year. This initiative, aimed at shielding consumers from energy price shocks, comes as the Middle East conflict continues to underscore global energy insecurity.
