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Singapore, Korea lead Asia’s central bank battle against inflation
Singapore and South Korea both tightened monetary policy on Thursday, hot on the heels of rate hikes in Canada and New Zealand, as global policymakers moved quickly to prevent soaring inflation from derailing a fragile world economic recovery.
China set to loosen credit but economic woes may be too deep for quick turnaround
China's explicit call to cut the amount of cash banks set aside as reserves and boost lending has reinforced expectations for imminent policy easing, but economists say any credit loosening may not be enough to beat back the prospect of a deep economic downtrend.
FTSE 100 tracks broader Europe higher after ECB holds rates
A rally in banks and consumer stocks saw London's FTSE 100 reverse session losses on Thursday, moving in line with other European peers as investors scaled back bets of interest rate hikes by the European Central Bank.
ECB on track to unwind stimulus after inflation warning
The European Central Bank confirmed plans on Thursday to end its hallmark stimulus scheme in the third quarter, worried that high inflation could become entrenched, even as the war in Ukraine left the outlook exceptionally uncertain.
Inflation in Russia hits highest in more than 20 years
Annual inflation in Russia accelerated to 17.49% as of April 8, its highest since February 2002 and up from 16.70% a week earlier, the economy ministry said on Wednesday, as the volatile rouble sent prices soaring amid unprecedented Western sanctions.