Russian authorities are said to be preparing a gradual approach to suspending capital controls that have backed markets since the start of the war. Discussions this week revolved around a possible extension of the deadline for exporters to convert their foreign profits into rubles and a lowering of the threshold below 80%. The move will raise questions about the effectiveness of Western sanctions, which were designed to bring the Russian economy to its knees. Calls are growing for countries to target key oil and gas imports from Russia to help cut off a critical source of revenue, but Europe has so far been divided on the issue.

5 things to start your day with

  1. The National Grid could pay power stations to turn off power for Queen’s Jubilee energy demand, which is expected to plummet as households head to street celebrations
  2. How the Bank of England lost control of inflation Despite warnings of an impending cost-of-life crisis more than a year ago, interest rate regulators on Threadneedle Street failed to take action ) 60,000 is not enough for a job at the new Treasury Department outpost in the north The former government adviser says that the salary for the role of politics in the Darlington-based labor market is too low
  3. Britain needs oil and gas, Kwarteng tells Extinction Rebellion protesters how Extinction Rebellion lost its mark with attack on city
  4. The railway company is facing a strike for the “transparent” uniforms Avanti is involved in a dispute with RMT after it gave the employees “thin new t-shirts and shirts”.

What happened overnight

Asian stocks rose on Wall Street on Thursday. MSCI Asia’s Pacific Wide Index outside Japan was up 0.4% in early trading in Asia, boosted by a 0.5% rise in Australian high-stocks and a 0.6% rise in its blue chip stock. mainland China. Japan’s Nikkei rose 1.2%. South Korean stocks were bullish on Thursday. The KOSPI index fell 0.4% as the central bank raised its policy rate to its highest level since August 2019 in an unexpected move, as it seeks to stifle rising inflation. Asian markets, including Hong Kong, Singapore and Australia, are closed for Easter on Friday, as are major European and American markets.

He is coming today

Corporate: THG (full year results). Ashmore Group, DiscoverIE Group, Dunelm, Hays, Mediclinic International, Ninety One (transaction statement) Finance: ECB (EU) interest rate decision, Retail (US), Unemployment Claims (US), Bank of England (UK) Credit Survey, Michigan (US) Consumer Climate Index