German 10-year bond yield hits 12-year high as prices slump
The ECB raised interest rates to a record high of 4% on Sept. 14. The Federal Reserve held interest rates at 5.25% to 5.5% on Wednesday, followed by the Bank of England holding rates at 5.25% on Thursday. Policymakers' overriding message was that interest rates would remain at high levels until inflation was clearly heading back down to 2% and was likely to stay there
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