United Statesglt

Sam Lynton-Brown, head of global macro strategy at BNP Paribas Markets 360, discusses the economic situation in the United Kingdom. Speaking on Bloomberg Television, he says BNP is not expecting UK long-term borrowing costs to go higher following the yield on 30-year gilts' jump to 5.78% earlier in the week. "We think that's actually one of the DM bond markets that should be a little bit more insulated given how cheap valuations already are," Lynton-Brown says.

Bank of England Governor Andrew Bailey said inflation is expected to rise to "a little over 3.5% by the end of the year" as a direct consequence of the conflict in the Middle East. He was speaking during a press conference following the central bank's decision to keep interest rates on hold with several policymakers saying they might consider future hikes.

Bank of England Governor Andrew Bailey says it was appropriate to keep interest rate on hold at 3.75% on Thursday due to the situation in the Middle East. There has been a "huge increase in uncertainty," Bailey said in a pooled interview clip. "None of us know how this is going to play out."