Bloomberg Business

India Seeks to Carve Out $12 Billion to Cool Inflation

Indian officials are considering a plan to reallocate as much as 1 trillion rupees ($12 billion) from the budgets of various ministries to contain a surge in food and fuel costs without imperiling the federal deficit target, according to people familiar with the matter.

China Told State Banks to Escalate Yuan Intervention

Chinese authorities told state-owned banks to step up intervention in the currency market this week, in a push to prevent a surge in yuan volatility, according to people familiar with the matter.

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