FT News Briefing The Bank of England’s surprise rate rise
Dec 17, 2021
Tensions rise as the Bank of England unexpectedly hikes interest rates for the first time in three years, shocking investors amid inflation fears tied to the Omicron variant. Meanwhile, Americans scramble for vaccine boosters, highlighting challenges in distribution. The show also discusses the public listing of TPG and its implications for private equity, alongside UEFA's efforts to support European soccer clubs facing financial strain due to the pandemic.
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Booster Shot Availability
- Access to booster shots varies significantly across the US.
- While readily available in some rural areas, appointments in major cities can have wait times of up to two weeks.
TPG Goes Public
- TPG, a private equity giant, has filed to go public, following the trend of other firms like KKR and Blackstone.
- This IPO is part of a five-year succession plan to transition TPG into a fully independent public corporation.
Bank of England's Surprise Rate Hike
- The Bank of England surprised markets by raising interest rates despite Omicron concerns.
- This contradicts typical central bank behavior, which avoids hawkish surprises.