The Bank of England raised interest rates by 25 basis points to 4.25% Thursday, as widely anticipated by the market, in a 7-2 vote. Further tightening of monetary policy will be required "if there were signs of more persistent price pressures," the central bank said in a statement.
European banking stocks rallied Thursday as the Swiss National Bank pledged to lend Credit Suisse Group AG up to CHF 50 billion through a covered loan facility and a short-term liquidity facility, alleviating fears of financial industry turmoil. Credit Suisse shares are trading 5% higher premarket.
Cryptocurrency exchange Coinbase on Monday announced that it will suspend trading of stablecoin Binance USD on March 13 this year, due to non-compliance with the platform's listing requirements. The decision was made following a recent review of assets listed on the exchange, in which BUSD was found to fall short of the criteria for inclusion.
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