European markets are into a solid rally today with shares in France leading the region.
In Paris CAC-40 secured 1.60% while London’s FTSE100 added 1.40% and Germany’s DAX gained 1.28%.
The UK’s debt jumped more more than its economy after the government borrowed a record amount in May.
The mark of £55.2bn represents nine times higher than in May last year and the highest since records began in 1993.
This morning, the Russian Central Bank reduced its interest rates by 100 basis points to 4.5%.
This represents its weakest mark since the fall of the Soviet Union, as it looks to shore up an economy reeling from the impact of the coronavirus pandemic.
As a matter of fact, the bank had already dropped its rates by 50 basis points in April. Still however, the Russian GDP (gross domestic product) retreated a whole 28% in April alone