The Bank of England's monetary policy must focus on its main goal of controlling inflation, rather than trying too hard to stabilise the exchange rate or economic activity, its chief economist Huw Pill said on Tuesday.
British shoppers swapped branded items for cheaper own-label products and turned to value ranges to help manage grocery inflation which soared to 8.3% in the four weeks to June 12, its highest level since April 2009, industry data showed on Tuesday.
U.S. President Joe Biden is considering scrapping tariffs on a range of Chinese goods to curb inflation, but no decision is likely before next week's Group of Seven summit, people familiar with the matter said.
Japanese Prime Minister Fumio Kishida said on Tuesday the central bank should maintain its ultra-loose monetary policy, brushing aside opposition calls that the policy be tweaked to target Japan's rising cost of living.
Crypto lending may not be down and out, but it's certainly on the ropes.
Shipping companies are transforming rust buckets into gold mines in a modern-day alchemy that could fuel already rampant inflation for years to come.
It defies logic that one of the world's biggest exporters of liquefied natural gas (LNG) and coal is struggling to ensure enough domestic supplies to keep the lights on, but that is Australia's current reality.
It defies logic that one of the world's biggest exporters of liquefied natural gas (LNG) and coal is struggling to ensure enough domestic supplies to keep the lights on, but that is Australia's current reality.
Asian stocks and U.S. share futures turned higher on Tuesday as the market took stock after a recent steep selloff, but concerns remain that aggressive central bank rate hikes to curtail inflation could spark a global recession.
Stocks rose and the safe-haven dollar edged down on Tuesday as investors paused for breath after a steep selloff, but concerns remain about aggressive central bank interest rate hikes and risks of a global recession.
The Philippine central bank will raise rates by a modest 25 basis points for a second straight meeting in June, opting to move more slowly than its global peers in an attempt to cool soaring inflation, a Reuters poll forecast.
The Japanese yen plunged against the U.S. dollar on Tuesday to its lowest level since October 1998, as the Bank of Japan's ultra-loose monetary policy was in stark contrast with an aggressive Federal Reserve determined to stamp out soaring inflation.
The euro rose on Tuesday, drawing support from the European Central Bank's plans to raise interest rates to contain inflation, while the yen slumped to a 24-year low as the Bank of Japan's ultra-loose monetary policy stance continued to weigh.
Bank Indonesia will leave its key interest rate steady at 3.50% on Thursday but over one-quarter of economists in a Reuters poll expect a rate rise to stem imported inflation from a weak rupiah currency as the U.S.
South Korea's central bank on Tuesday said it expects inflation will be higher than earlier projected and that it would closely assess debt repayment burdens to determine whether a half-percentage point interest rate hike in July was appropriate.
Australia's top central banker on Tuesday flagged a lot more policy tightening ahead as rates were still "very low" and it was important that higher inflation did not feed into public expectations and wage claims.
Australia's central bank said on Tuesday its pandemic stimulus programme to keep short-term bond yields low was successful for much of its life but the exit was disorderly and caused the bank some "reputational damage."
German government bond yields rose sharply on Monday as signs of broadening inflationary pressures in Europe's economic powerhouse and hawkish comments from top policymakers reaffirmed expectations of higher interest rates in the bloc.
Spreads between core and peripheral euro zone bond yields steadied on Monday amid mild concerns about the political outlook for France after President Emmanuel Macron lost control of Parliament in a legislative election.
Russia on Monday accused some members of the Group of 20 major economies of politicizing a meeting on global health, as it faced criticism over how its invasion of Ukraine in February had plunged its healthcare system into chaos.
A plunge in shares in Italian banks, sparked by rising government bond yields, has reawakened memories of the 2011-12 debt crisis and rekindled concerns over lenders' vulnerability to sovereign risks.
A series of surprise actions by some of the world's largest central banks fretting about runaway inflation has left bond investors battered.
China's crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.
The euro rose on Monday despite French President Emmanuel Macron losing an absolute majority in the country's parliamentary election, as the dollar retreated against its major peers after hitting a 20-year peak last week.
The yen wallowed near a 24-year low against the dollar on Monday, licking its wounds after the Bank of Japan last week renewed its commitment to ultra-easy policy and bucked the trend among global peers to rapidly raise interest rates.
The euro rose on Monday as markets focused on the European Central Bank's tools to fight fragmentation in the currency bloc, looking through the risk of political gridlock in France for now after President Emmanuel Macron lost an absolute majority in the country's parliamentary election.
The euro rose on Monday as markets focused on European Central Bank tools to fight fragmentation in the currency bloc, shrugging off the risk of political gridlock in France for now after President Emmanuel Macron lost an absolute majority in a parliamentary election.
Oil prices wobbled early on Monday as investors refocused on tight supplies, though sentiment was still fragile after 6% slump in the previous session amid concerns about slowing global economic growth and fuel demand.
Oil prices edged down on Monday, reversing earlier gains, as concerns about slowing global economic growth and fuel demand offset worries about tightening supplies.
Oil prices rose on Monday in volatile trade, reversing earlier losses, as tightening supplies outweighed concerns about slowing global economic growth and fuel demand.
