The Federal Reserve says it will start tapering its massive Covid-era stimulus programme and to slow bond-buying from this month. However, a rate hike is not on the cards. Meanwhile, the Bank of England is potentially willing to raise rates in the face of surging inflation, but the MPC vote is likely to be split with some members pushing to delay the move until December. A couple of big European lenders came out with results. Credit Suisse warned of a Q3 net loss, announcing a new group strategy, splitting the business into four separate divisions. And, Société Générale has had a surprise change of CFO as the French lender saw third quarter profits soar by 80 per cent amid a waning cost of risk. 

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