The Bank of England Isn't as Aggressive as the Fed

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Sterling fell like 2%. The reason for that is markets are all about where reality and expectations meet. Russia said it will rejoin a deal to allow Ukraine to export its grain. JP Rathbone says Turkey's president, Recep Tayyip Erdogan, helped Moscow get back on board.

The US labour market appears to be cooling, the Bank of England raised interest rates by 75 basis points, the biggest increase in 30 years, and Russia has rejoined a deal to allow grain exports from Ukraine through the Black Sea. Plus, the FT’s Yuan Yang explains why Germany is reconsidering its dependence on trade with China.

Mentioned in this podcast:

Tech groups cut jobs and pause hiring amid ‘leaner times’

Bank of England raises interest rates by 0.75 percentage points

Germany struggles with its dependency on China

Russia agrees to rejoin Ukraine grain exports deal

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

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