Banking

General view of the Bank of England building in London.Sopa Images | Lightrocket | Getty ImagesThe central bank's key rate is at a 16-year high of 5.25%, where it has stood since August.Seven members of the Monetary Policy Committee voted to hold, while two favored to cut by 25 basis points. The result mirrored the vote in the May meeting. A basis point equals one-hundredth of a percentage point.In a statement, the MPC noted inflation had reached the central bank's target and said indicators of "short-term inflation expectations" and wage...

Stay informed with free updatesSimply sign up to the War in Ukraine myFT Digest -- delivered directly to your inbox.The EU has agreed its first sanctions against Russian gas by targeting the country’s lucrative liquefied natural gas shipments, as part of its latest package of restrictions against Moscow in response to its invasion of Ukraine.The deal struck between member state ambassadors on Thursday will prohibit Russian exporters from using EU ports to transfer gas between large tankers and smaller vessels destined for third countries. But it falls short of a...