Bank of England Deputy Governor Sarah Breeden has warned that global stock markets are overvalued and poised for a correction, citing numerous economic risks that current asset prices fail to reflect. Breeden expressed concern over potential simultaneous crystallisation of macroeconomic shocks and weaknesses in the burgeoning 'shadow banking' system.
Justin Sun, a prominent cryptocurrency investor and supporter of Donald Trump, has initiated legal action against World Liberty, a crypto venture co-founded by the former US President and his son, Eric Trump. Sun alleges the firm engaged in an "illegal scheme" to seize his WLFI tokens, freezing his assets and removing his voting rights. The lawsuit, filed in a San Francisco federal court, claims the firm has threatened to permanently destroy his tokens.
The UK's inflation rate rose to 3.3% in March, primarily driven by elevated fuel costs. Despite a temporary dip anticipated in April due to a fall in the energy price cap, analysts project a potential peak near 4% this year, significantly lower than the 11% observed in 2022. The Bank of England is expected to maintain a cautious approach to interest rates, acknowledging the limited impact on global energy markets.
