International - Financial Times - Credit Squeeze

Rise comes despite cut in base rates by Bank of England

President Xi is likely to double down on energy independence drive as Strait of Hormuz risks rise

Sentiment buoyed by more upbeat view of country’s growth prospects, especially among the young

Ottawa takes anti-dumping measures on non-US shipments as it looks to protect jobs

Donald Trump’s trade shock is a wake-up call for faster reform

Surge in value of Swiss franc amid US-driven trade war and lagging inflation has complicated policymaking

Decision follows data showing UK inflation remains stubbornly above target

Maxim Reshetnikov says persistent inflation and central bank’s hawkish policy contribute to slowdown

Also in today’s newsletter, Fed cuts US growth outlook and Microsoft threatens to end OpenAI partnership

It’s high time for the EU to overcome its childish resistance to permanent joint borrowing

Brussels pushes for agreement that could leave some tariffs in place

Nippon Steel’s $15bn deal for US Steel reflects a version of capitalism that does not fully serve the interests of shareholders

Central bank officials split amid concerns over higher inflation as a result of tariffs

Signs of property market weakness come hours ahead of Federal Reserve’s decision on interest rates

Without political consensus, hawkish central banks and budgetary rules will not bring economic stability

Also in today’s newsletter, Big Tech lobbies against AI rules and US to delay TikTok ban again

Pan Gongsheng points to a growing role for the renminbi after decades of dominance by the US currency

Figure strengthens expectations that Bank of England will keep interest rates unchanged this week

US official indicates the measure would be used sparingly in future cross-border takeovers

If weakness emerges in American assets, it will show up more in the dollar, not stocks.