UK officials should consider lifting the Bank of England’s inflation target from 2% once rampant price growth is brought under control, according to one of Chancellor Jeremy Hunt’s advisers.
Persimmon Plc’s pending exit from the FTSE 100 Index after a decade-long stay provides the latest sign of how the highest UK interest rates since the global financial crisis are crushing the country’s property-related stocks.
The flagship Sogo & Seibu Co. store in central Tokyo shut on Thursday as employees went on strike, following through on their pledge to stop work over Seven & i Holdings Co.’s agreement to sell the department store chain to Fortress Investment Group.
China’s three largest airline companies reported significantly narrower losses for the first half of 2023 as Beijing’s lifting of Covid restrictions late last year unleashed pent-up demand for domestic travel.
China approved the first batch of generative artificial intelligence services for public rollout, freeing up homegrown technology champions including Baidu Inc. and SenseTime Group Inc. to openly compete with the likes of OpenAI Inc. and Microsoft Corp.
New Zealand’s main opposition National Party would quickly remove the central bank’s dual mandate and return it to a sole focus on inflation if it wins the October election.
A gauge of trader sentiment toward China’s yuan has produced a bearish reading for a record 51 days, showing the limits of Beijing’s efforts to support its sinking currency.
The Bank of Japan’s most dovish board member called for cautiousness over making any policy change, as the central bank’s inflation goal still remains out of reach.
The People’s Bank of China met with lenders and private businesses on Wednesday, pledging to improve their access to funding in an effort to boost economic growth.
Two of China’s biggest cities lowered mortgage requirements for some homebuyers following central government guidance, fanning expectations that more will follow suit to arrest a record housing slowdown.
