Live news: Bank of England’s Bailey admits ‘big lessons to learn’ on inflation

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UK labour: Ballots open for members of the Royal College of Nursing to vote on whether to take strike action in response to the government’s latest pay offer. The ballot closes on June 23. A separate strike ballot by RMT among 10,000 Underground workers closes.

Bank of England: Governor Andrew Bailey, chief economist Huw Pill and monetary policy committee members Silvana Tenreyro and Catherine Mann respond to questions from the House of Commons Treasury committee on this month’s interest rate rise.

Literature: The winner of the International Booker Prize is announced in London.

Ukrainian army’s 43rd Heavy Artillery Brigade fires a German Panzerhaubitze 2000 howitzer at Russian positions near Bakhmut
Troops of the Ukrainian army’s 43rd Heavy Artillery Brigade fire a German Panzerhaubitze 2000 howitzer at Russian positions near Bakhmut © Marko Djurica/Reuters

War in Ukraine: The EU Foreign Affairs Council meets in Brussels over support for Ukraine. Josep Borrell, EU high representative for foreign affairs and security policy, updates defence ministers, who are expected to discuss providing Kyiv with artillery ammunition.

Companies: Société Générale chief executive Frédéric Oudéa steps down and is succeeded by Slawomir Krupa. UK food producer Cranswick supplies full-year results. German hydropower company Statkraft issues first-quarter earnings, while UK food service contractor SSP Group and retailers Topps Tiles and Victorian Plumbing provide first-half results.

Data: S&P Global releases manufacturing and services purchasing managers’ index data for the EU, France, Germany and the UK. British public sector net borrowing figures are also announced, along with Kantar’s monthly supermarket sales, market share and inflation data.

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