Investors await key non-farm payrolls jobs report. Cleveland Federal Reserve President Loretta Mester has reiterated the central bank’s resolve to rein in inflation via rate hikes. On this side of the pond, the BoE hikes rates by 50 bps – the largest move it has made in 27 years. Governor Andrew Bailey says the UK is likely to fall into recession in the fourth quarter with inflation topping 13 per cent by October. Tesla shareholders approve a 3-for-1 share split. CEO Elon Musk suggests building more giga-factories and offering a share buyback. And Chinese e-commerce giant Alibaba posts a Q2 beat but revenue falls for the first time since its New York IPO, due to Beijing’s strict zero-Covid policies.  

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