The world's central bankers are caught up in a race to curb inflation that only the Federal Reserve can stop.
Israel's aggressive interest rate hiking cycle aimed at lowering inflation was at a "well advanced" stage, Bank of Israel Governor Amir Yaron said, with price pressures starting to ease and inflation hopefully moving back into its target range next year.
The Reserve Bank of India may have to hike the repo rate to as much as 6.75% as inflation remains a threat, lingering above the central bank's target range for the remainder of the year, the head of fixed income at Edelweiss Asset Management said on Thursday.
The Canadian dollar is set to fall short of a September forecast for the coming year following sharp losses in recent weeks and as interest rate hikes by the Bank of Canada threaten to push the domestic economy into recession, a Reuters poll showed.
The Bank of Japan (BOJ) on Thursday painted a cautiously optimistic view on consumption, and joined the government in voicing hope that next week's re-opening of borders will boost inbound tourism and help the economy benefit from a weak yen.
Growth in India's services industry slumped in September to a six-month low, led by a substantial easing in demand amid high inflation, a private survey showed.
When Japanese Prime Minister Fumio Kishida vowed this week to wring more gains from the weak yen, which has become instead a source of economic pain, he was pinning his hopes on the likes of Soichi Yoshimura, 33, and his strawberry farm north of Tokyo.
Sri Lanka's central bank held policy rates steady on Thursday, saying monetary conditions remain "sufficiently tight" after a massive rate-hike campaign earlier in the year as the crisis-hit nation grapples with red-hot inflation and shortage of dollars.
The unstoppable dollar, which is already having a banner year, is likely to extend its dominance beyond 2022, according to a Reuters poll of foreign exchange strategists who said the currency was still some distance from an inflection point.
Japan's yen will recoup only a third of its big losses against the dollar in the coming year as the policy gap between the ultra-hawkish U.S.
U.S. legislation that could open members of oil producing group OPEC+ to antitrust lawsuits has emerged as a possible tool to tackle high fuel prices, after the body said it would slash production despite lobbying by the Biden administration.
High inflation has made it harder to pay the bills, roiled retirement plans, and led people to curb travel and watch the thermostat.
European shares dropped on Wednesday, snapping a three-day rally as investors tempered expectations of central banks toning down their hawkish stance on inflation, with declining business activity in the region fuelling fears of an economic downturn.
Turmoil in markets has triggered alarm over how banks will cope, with regulators warning they could repeat some of the mistakes that led to the financial crisis more than a decade ago.
U.S. private employers stepped up hiring in September, suggesting demand for workers remains strong despite rising interest rates and tighter financial conditions.
The Middle East and North Africa region is expected to post economic growth of 5.5% in 2022, the fastest pace since 2016, before slowing to 3.5% growth next year, the World Bank said on Wednesday.
Wall Street was set to open lower on Wednesday due to weakness in megacap growth and technology stocks as Treasury yields rose, spurred by data that showed a resilient demand for labor despite rising interest rates.
New research by the International Monetary Fund shows that sustained wage-price spirals are historically rare, and recent sharp interest rate hikes by central banks are likely to help prevent high inflation expectations from becoming entrenched.
Europe may limp through the cold winter months with the help of brimming natural gas tanks despite a plunge in deliveries from former top supplier Russia only to enter a deeper energy crisis next year, the head of the International Energy Agency said.
Global bond funds saw the biggest outflows in two decades in the first three quarters of this year as hefty interest rate increases by central banks to tame inflation sparked fears of a recession.
Britain's private-sector economy last month suffered the sharpest contraction in activity since a COVID lockdown early last year, underlining the challenge facing Prime Minister Liz Truss who on Wednesday emphasised her push for economic growth.
Japan will take "unprecedented" measures to curb rising electricity bills for households and businesses as a weak yen fans inflation and global recession fears pose big risks to the economy, Prime Minister Fumio Kishida told parliament on Wednesday.
Faced with mounting evidence that loose U.S. monetary policy contributed to the breakout of inflation last year, the Federal Reserve now faces the risk it jumped too far the other way with its plans to fight price pressures through continued aggressive interest rate hikes even as the world economy wobbles.
Euro zone government bond yields edged higher but stayed significantly below their multi-year highs as concerns about systemic risk and economic slowdown drove investors to lower bets on terminal rates.
Major developed central banks delivered in September rate hikes at a pace and scale not seen in at least two decades, ramping up their fight against multi-decade high inflation with little let-up in sight.
South Korea's consumer inflation slowed for a second month in September, data showed on Wednesday, but economists said the data would do little to change the central bank's tightening bias amid growing talk it could opt for a bigger hike next week.
New Zealand's central bank on Wednesday lifted interest rates to a seven-year high and promised more pain to come as it struggles to cool red-hot inflation in an over-stretched economy.
Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.
Despite the high job opening levels, the U.S. economy has not gained any new jobs since the pandemic, and many jobs are either part-time or temporary.
The dollar nursed its biggest losses for years on Wednesday, after a dovish central bank surprise in Australia had investors wondering whether a peak is in sight for global interest rates.
