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The pound advanced against its most major counterparts in the European session on Thursday, as the Bank of England left its benchmark interest rate unchanged for the second straight meeting and indicated that the rate will remain higher for an extended period.
Poll predicts less chances of another hike in November as BoE officials convey inflation battle not over.
Last week, the Fed lifted the federal funds rate target by 25 basis points to a range of 4.5% to 4.75%.
New World Order for U.S. E&Ps as Biden Freezes Near-Term Federal Oil, Natural Gas Leasing The Biden administration last week froze for 60 days awarding new oil and gas drilling permits, as well as leases on federal onshore and offshore property, likely heralding more permanent limits to be enacted down the road. The order mandating the freeze was signed by acting Department of the Interior (DOI) Secretary Scott de la Vega on Jan. 20, the day President Biden was sworn into office. The action comes amid a flurry of “Day One” executive actions on climate and energy by the new administration....
U.S. Oil, Natural Gas Industry Warns of Economic, Environmental Fallout from Biden Freeze of Federal Leasing The Biden administration has frozen awarding new oil and gas drilling permits, as well as leases on federal onshore and offshore property, for 60 days, likely heralding more permanent limits to be enacted down the road. The order mandating the freeze was signed by acting Department of the Interior (DOI) Secretary Scott de la Vega on Jan. 20, the day President Biden was sworn into office. The action comes amid a flurry of “Day One” executive actions on climate and energy by the new ...