• Upside risks to UK inflation and downside risks to growth have increased due to the Middle East conflict.
• Market participants expect near-term risks to skew towards Bank Rate moving higher, with varying views on the extent of rate rises.
• Risk asset pricing has recovered to pre-conflict levels, while global rates markets and central-bank policy path pricing remain sensitive to energy price developments.

• Fed approves Columbia Financial, Inc. as a new top-tier holding company
• Columbia Financial, Inc. to acquire Columbia Bank and Northfield Bancorp, Inc.
• Northfield Bancorp, Inc. to indirectly acquire Northfield Bank