Having bucked a global dash to tighten monetary policy for a year, Asian central banks find themselves scrambling to catch up in order to tackle rising inflation and defend weakening currencies.
South Korea's strenuous attempts to defend a sharply weakening currency have run into an unstoppable home-made force working in the opposite direction: the national pension fund.
The European Central Bank will raise interest rates for the first time in 11 years on Thursday with a bigger-than-flagged move seen as increasingly likely as policymakers fear losing control of runaway consumer price growth.
The European Central Bank raised interest rates by more than expected on Thursday, confirming that concerns about runaway inflation now trump growth considerations, even as the euro zone economy reels from the impact of Russia's war in Ukraine.
The European Central Bank raised interest rates by more than expected on Thursday as concerns about runaway inflation trumped worries about growth, even while the euro zone economy is suffering from the impact of Russia's war in Ukraine.
The Bank of Japan is set to raise its inflation forecast on Thursday but maintain ultra-low interest rates and warn of risks to a fragile economy, reinforcing its position as an outlier in a wave of global increases to borrowing costs.
The Bank of Japan raised its inflation forecast on Thursday but maintained ultra-low interest rates and warned of risks to a fragile economy, reinforcing its position as an outlier in a wave of global central bank policy tightening.
The Bank of Japan projected inflation to exceed its target this year in fresh forecasts issued on Thursday, but maintained ultra-low interest rates and signalled its resolve to remain an outlier in a wave of global central bank policy tightening.
The Bank of Japan projected inflation would exceed its target this year in fresh forecasts issued on Thursday, but maintained ultra-low interest rates and signalled its resolve to remain an outlier in a wave of global central banks' policy tightening.
The African Development Bank (AfDB) is seeking additional capital for its fund offering infrastructure finance at cheap rates to low-income and fragile African economies, the bank's president said on Wednesday.
South African inflation surged to a 13-year high in June, data showed on Wednesday, moving further away from the central bank's target the day before an interest rate announcement.
Inflation in Canada picked up speed again in June with prices rising at their fastest pace since January 1983, official data showed on Wednesday, but the rise was not as steep as forecast, leaving analysts unsure about how forcefully the Bank of Canada would respond.
The tech-heavy Nasdaq climbed over 1% on Wednesday as investors digest the latest earnings as positive signals of the economy, albeit rising concerns on inflation and a tightening Fed.
Wall Street closed higher on Wednesday with the tech-heavy Nasdaq booking a nearly 2% gain on positive earnings signals with a wary eye on inflation and more interest rate hikes by the Fed.
Ukraine will ask international bondholders to agree to a 2-year delay on its debt payments so it can focus its dwindling financial resources on repelling Russia, a government resolution published on Wednesday showed.
The Pakistan rupee slid further against the U.S. dollar on Wednesday, as the local foreign exchange association warned that panic was spreading through the currency market following the sharp declines this week.
Pakistan's finance minister on Wednesday blamed the rupee's slide on political turmoil, saying he expects market jitters over the currency's sharp decline to subside soon.
Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.
Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.
There's a weary acceptance among investors of almost inevitable market volatility around Italy's latest political upheaval - but that's where the hand-wringing tends to end this time.
A revolt by Chinese homebuyers, who have threatened to stop paying mortgages on hundreds of unfinished housing projects, is spurring a shakeout among cash-starved property developers who have long relied on pre-sales of apartments.
The European Union will set out emergency plans on Wednesday to reduce gas demand within months, warning countries that without deep cuts now they could struggle for fuel during winter if Russia cuts off deliveries.
Thailand's economy has clearly recovered and the central bank will ensure the recovery is not interrupted by efforts to tackle higher inflation, the central bank chief said on Wednesday, amid expectations of an interest rate hike.
World shares hit a three-week high on Wednesday as strong U.S.
A gauge of global stocks rose for a fourth straight day on Wednesday, buoyed by optimism over the early stages of the U.S.
Asian shares extended a global rally on Wednesday as strong U.S.
The euro held near two-week highs versus the dollar on Wednesday on expectations of a bigger ECB interest rate increase this week than earlier anticipated and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance.
The U.S. dollar rose against the euro on Wednesday in a choppy session, but its gains were capped as traders were hesitant to drive big moves ahead of a crucial European Central Bank policy decision on Thursday.
Oil prices fell on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand.
Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand.
