Food inflation has risen by 15 per cent in a year, as prices in Britain's shops reach unprecedented levels. Experts say retailers must focus on their price differentiation strategy as consumers' purse strings "continue to feel the squeeze".

Investor confidence in the banking sector remained fragile on Tuesday, with the European Central Bank (ECB) saying recent volatility highlighted the need for greater regulatory scrutiny.

U.S. Treasury Secretary Janet Yellen sought to reassure jittery investors that American bank deposits were safe and promised policymakers had more firepower to battle any crisis even as bank stocks resumed their slide on Thursday.

The Bank of England (BoE) raised interest rates for the 11th time in a row on Thursday, but said a surprise resurgence in inflation would probably fade fast, prompting speculation it had ended its run of hikes.

Talks over rescuing Credit Suisse rolled into Sunday as UBS AG sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a person with knowledge of the talks said.

The Bank of England must decide next week whether to halt its long run of interest rate hikes or push them up again, probably for one last time, despite investor alarm over how banks in the United States and Europe are coping with higher borrowing costs.

The U.K. Treasury, which facilitated the transaction alongside the Bank of England, said in a statement that the deal would protect the deposits of SVB U.K. clients.

Declining cash usage fuels current Bank of England and HM Treasury consultation on a new 'digital pound' before the end of this decade.

The California-based SVB bank, which was closed by US authorities on Friday, manages the money of some of the UK's most promising businesses.

Britain's proposals to loosen capital rules for insurers will increase the chances of an insurance company failing by 20% in a given year, the Bank of England has told lawmakers, reiterating its caution over the government's plan.

British businesses scaled back plans for price rises in February but overall intentions for price and wage increases remain high, according to a Bank of England survey which is unlikely to resolve policymakers' disagreements on the inflation outlook.

Bank of England Governor Andrew Bailey said on Wednesday it was possible the central bank had already come to the end of its rate-rising cycle, leading financial markets question whether a rate rise this month is as clear-cut as they thought.

British employers offered the biggest annual pay rises in 32 years during the three months to the end of January, but these increases are still a long way behind double-digit inflation, industry data showed on Wednesday.

Stocks rose on Thursday as recent economic data from around the world fed hopes that the global economy might not face as hard a landing as feared a few months ago, even as interest rates threaten to remain higher for longer than expected.

The dollar eased on Thursday as investors scooped up higher-risk currencies after a run of strong U.S.

British employers expect to raise wages for their staff by the most in at least 11 years but the 5% pay deals for workers would still fall well below expected inflation, a survey published on Monday showed.

Bank of England policymakers disagreed on Thursday about where interest rates need to go to tame inflation, with Governor Andrew Bailey stressing the uncertainty of the outlook, a week after the BoE suggested its run of rate hikes might be peaking.

The Bank of England has signalled the tide is turning in its battle against high inflation after a series of interest rate hikes - but it has also said it is too soon declare victory.

Asian shares eased on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession, but also suggested interest rates would have to rise further and stay up for longer.

European and US stock markets mostly rose on Thursday after the European Central Bank and Bank of England raised interest rates, joining the US Federal Reserve in moving once again to cool sky-high inflation.

The Bank of England on Thursday hiked its interest rate for a tenth time in a row as global authorities race to combat sky-high inflation.

The Bank of England is poised to raise interest rates for the 10th time in a row on Thursday to keep up its fight against rampant inflation, but it might also drop a hint about when the steep climb in borrowing costs will end.

JPMorgan Chase & Co. is working with KPMG to improve how the U.S. bank supervises its traders.

The dollar languished near an eight-month low on Monday ahead of a slew of central bank meetings this week, while higher Spanish inflation data supported the euro ahead of euro area readings on Wednesday.

The Bank of England will lift the Bank Rate by 50 basis points on Feb.

The Bank of England must decide next week how much higher it will raise borrowing costs as it tries to bear down on Britain's double-digit inflation rate without adding too much stress to an economy already close to recession.

The dollar was staring at a fourth straight session of losses against the euro on Monday as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve.

Inflation-pinched British consumers cut their shopping by the most in the key month of December in at least 25 years, official data showed on Friday, dashing hopes for a Christmas boost for the country's flagging retail sector.

Pay growth in Britain - which is being closely watched by the Bank of England as it gauges how much higher to raise interest rates - picked up more pace in the three months to November, official data showed on Tuesday.

Bank of England Governor Andrew Bailey questioned the need for a digital pound on Monday just as euro zone finance ministers backed further preparatory work on a digital euro.