Economists see India’s central bank holding interest rates this year before cutting 25 basis points in the first quarter of next year as inflation moderates and the economy stays resilient, according to the latest Bloomberg survey results.
Australia’s central bank is in “data-dependent mode” when it comes to the prospects for further interest-rate increases, Governor Philip Lowe said, shortly before monthly data showed inflation heating up again.
JPMorgan Chase & Co. said the bank’s China expansion is taking longer than expected, as it gears up to invest more in the Japanese and Australian markets to take advantage of growth potential.
South Korea’s semiconductor inventory surged by the most in seven years, underscoring ongoing weak demand for chips despite the global boom in AI development.
The Bank of Japan will refrain from changing its yield curve control program while speculation continues to swirl that Prime Minister Fumio Kishida will call a snap election, according to a former board member.
The debt-limit deal would rein in spending on some federal government services but barely dents the roughly $20 trillion in combined budget deficits projected over the next decade.
House Speaker Kevin McCarthy dismissed threats from Republican hard-liners to oust him over the debt-limit deal he forged with President Joe Biden and expressed confidence Tuesday that lawmakers will pass legislation in time to avert a US default.
Japan’s factory output unexpectedly declined for the first time in three months in April amid a global slowdown, in a weak start to the country’s second quarter.
Reserve Bank of Australia Governor Philip Lowe said he’s “appalled” by the tax scandal that’s engulfed PricewaterhouseCoopers and the central bank won’t enter into any new contracts with the consultancy giant until a satisfactory resolution is reached.
India’s government is poised to deny crucial funding for billionaire Anil Agarwal’s chip venture, a setback for a $19 billion push to make semiconductors in the country.
