5/23, 5:37 PM (Source: TeleTrader)
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Europe closes deep in green amid rate, inflation talks

Major stock markets across Europe closed Monday's session with significant gains as economy experts continued discussions about upcoming rate hikes and their effects on inflation.

The Bank of England confirmed readiness to further increase its key interest rates to stabilize the British economy if it becomes necessary, while on the other hand, Russia's central bank revealed it was prepared to make additional rate cuts this year. Commenting on inflation, the German central bank said it expects inflation to average 7% in 2022.

The DAX surged 1.38% or 193 points at the closing bell, with Deutsche Bank jumping 7.01%. The FTSE 100 gained 1.67% or 123 points, while the CAC 40 rose 1.17%. The euro soared 1.11% against the dollar to sell for 1.06809 at 5:30 pm CET, while the pound climbed 0.65% to $1.25753.

Baha Breaking News (BBN) / ND