European stocks fell on Friday and were set for a weekly drop on fears of elevated global interest rates.
U.K. markets were seeing modest gains, and the British pound extended a multi-week decline, a day after the Bank of England held rates steady for the first time since November 2021.
Eurozone government bond yields slipped after a survey showed that the euro zone economy will likely contract in the third quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.