- UK household energy price cap to fall by over £1,200 in July due to drop in wholesale prices.
- Final estimate for cap in July ranges from £1,933 to £2,054.
- Gov't tackling cost of living crisis, cap will put bills below £3,000 threshold for support.
- Cap limits amount energy suppliers can charge customers on default tariffs.
- Wholesale prices have fallen due to mild winter and use of alternative sources.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec