Banking & Economics

Move follows weeks of scrutiny of fiscal and monetary policies and rare Washington-Tokyo intervention in currency markets

It is the only way of funding the defence of a continent with mortal enemies

US yields are likely to head higher driven by the Iran war and tariffs, but the upward pressure has little to do with the fiscal situation, according to Apollo Global Management Chief Economist Torsten Slok.

Finance chiefs focused on developing nations’ debt while sidestepping their own borrowing

Transport, inventory and warehousing costs show few signs of easing

Switzerland’s government appointed Christoph Ammann as the next president of the Swiss National Bank’s Bank Council, the panel that oversees the institution.

Brazil President Luiz Inácio Lula da Silva’s policy platform chief pushed back against investor proposals to cut public spending, saying in an interview that austerity would be unnecessary if the leftist wins reelection.

Ghana’s annual inflation rate resumed its upswing in August as the rise in oil prices caused by the war in Iran seeped into transport and utility costs.

Also in today’s newsletter: Ed Markey sees off younger opponent, and China scuppers G20 consensus

South African business sentiment dropped to a two-year low in the third quarter, reflecting elevated uncertainty as conflict in the Middle East rages on and domestic demand falters.

Bundesbank chief Joachim Nagel said a French far-left plan to reduce the country’s debt mountain by canceling the portion held by central banks would be forbidden under the bloc’s rules and could lead to hyperinflation.

India’s economy can approach $20 trillion by 2046 if it continues growing at its current pace, a top government official said, putting it in reach of Prime Minister Narendra Modi’s goal of becoming a developed nation.

Germany’s economy could expand by 1% this year, twice the pace projected only three months ago, Bundesbank President Joachim Nagel told Le Monde.

Australia inflation runs hot in July, adding to rate hike risk The Straits Times Australia inflation runs hot in July, adding to rate hike risk The Straits Times

Online banks pivot on low-rate mortgages as funding costs rise 朝日新聞 Online banks pivot on low-rate mortgages as funding costs rise 朝日新聞

Schnabel says ECB must raise rates further to contain inflation Brussels Signal Schnabel says ECB must raise rates further to contain inflation Brussels Signal