Sterling rallies as the Bank of England hikes rates for the first time in 3 years, raising its benchmark rate to 0.25% in anticipation of inflation hitting 6% by April. Meanwhile, the ECB is set to exit its Pandemic Emergency Purchase Programme in March in order to stave off surging levels of inflation. The ECB also plans to raise its Asset Purchasing Programme from $20 billion to $40 billion in the second quarter, and to $30 billion in the third. As Hong Kong votes for its next legislative council this weekend, we speak to CNBC’s Emily Tan about the first Legco poll since China’s overhauling of the electoral process in the city earlier this year.

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