New Zealand’s central bank will need to hold interest rates at their current level “for a prolonged period” and should remain open to further hikes if necessary to tame inflation, the International Monetary Fund said.
Pakistan is at an increasing risk of failing to restart its $6.7 billion bailout program with the International Monetary Fund, putting the South Asian country closer to a sovereign default, Moody’s Investors Service said.
Donald Trump urged prosecutors to drop the charges against him and insisted on his innocence in his first public remarks following his arraignment in federal court over mishandling classified materials.
Goldman Sachs pushed up its inflation projections for Japan, driving them further above the central bank’s forecasts and essentially ruling out the possibility of price growth slowing below 2% in coming months as policymakers forecast.
Japanese Prime Minister Fumio Kishida is unlikely to call an election next month, but will probably delay it until the autumn to give him time to patch up a fight with his junior coalition partner, according to the leader of the upstart opposition Japan Innovation Party.
Microsoft Corp.’s $69 billion acquisition of Activision Blizzard Inc. was temporarily blocked by a federal judge in California who said a temporary restraining order was necessary to maintain the status quo while the Federal Trade Commission challenges the deal.
President Joe Biden and Vice President Kamala Harris offered a rallying cry to Black voters during a Juneteenth celebration at the White House, listing their administration’s achievements and urging supporters to fight efforts to roll back those gains.
Tesla Inc. increased the starting price of its Model Y sports utility vehicles in the US for the third time in the past two months, adding $250 to the cost of the base model of its best-selling car.
Trading in options on US short-term interest rates heated up before and after May inflation data released Tuesday, with notable flows including apparent unwinds of wagers on Federal Reserve rate cuts later this year amid continued positioning for a pause in the hiking cycle on Wednesday.
Chinese investors are shifting more money into overseas assets as the Federal Reserve’s interest-rate hikes add allure to dollar deposits and bonds, putting pressure on slumping local stocks.
