First interest rate increase for three years accompanied by hawkish message that marks a sharp change in tone for the institution

Governor Andrew Bailey signals further rate rise to come as projections show increasing price pressures

Positive facts mean nothing if people are not personally experiencing solid real income growth

Explore the latest data through interactive charts

Growing fears of second-round inflation effects mean that Thursday’s rate increase is unlikely to be the last

Also in today’s newsletter: Oil plunges, and China blocks SoftBank’s acquisition of a robotics business

Regardless of California’s Proposition 40, calls for better taxation of capital will not go away. Answer these questions first

Investors expect midterm election to restrain sway of extremes in American politics

Also in this newsletter: Belgium pushes ahead with vote on controversial migration powers

Energy bills set to jump by nearly £470 in January to about £2,200 a year for a typical household

The president promised — but did not deliver — more manufacturing jobs and higher employment rates for native-born Americans

Voters’ repudiation of Republican agenda seen as a ‘victory’ for neighbour targeted by president’s trade war

Supply from Brazilian mine will bolster high-tech magnet production in Europe and US

Headline price pressures accelerate and core inflation remains well above the ECB’s 2% target

Also in today’s newsletter: Iran war and Qatar’s US LNG purchases

Consumer prices accelerate at fastest pace in three years

Per capita perspectives

Monetary Policy Radar looks at the leading candidates’ voting history and views on the central bank’s broader toolkit

Once the world’s top producer, the Gulf nation will control largest share of US output by 2033

US president is travelling to Shenzhen in two weeks to attend Apec summit