By Leika Kihara TOKYO (Reuters) -The Bank of Japan will scrutinise the effects and side-effects of its unconventional monetary policy tools deployed during a 25-year battle with deflation in a scheduled long-term review, Governor Kazuo Ueda said on Friday. Japan’s bitter memories of its decades-long battle with deflation hang heavily over the central bank’s deliberations…
HONG KONG (Reuters) -Chinese President Xi Jinping discussed the global rise of artificial intelligence with Bill Gates on Friday and said he welcomed U.S. firms including Microsoft bringing their AI tech to China, two sources familiar with the talks said. Xi also discussed Microsoft’s business development in China during their meeting in Beijing, one of…
HONG KONG (Reuters) – Chinese President Xi Jinping discussed the global rise of artificial intelligence (AI) with Bill Gates and said he welcomed U.S. firms including Microsoft to bring their AI tech to China, two sources familiar with the talks said. Xi also discussed Microsoft’s business development in China during their Friday meeting, said one…
By Georgina Lee and Winni Zhou HONG KONG (Reuters) – The Hong Kong stock exchange will start offering yuan-denominated Chinese stocks from Monday in what it calls a dual counter, a scheme that is seen as part of China’s efforts to increase the yuan’s use overseas. The exchange will initially target the offerings at investors…
By Joice Alves and Rae Wee LONDON/SINGAPORE (Reuters) – The yen fell to a new 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept ultra-low interest rates and forecast that inflation will slow later this year in contrast with the European Central Bank’s (ECB) rate hike on Thursday. As widely…
(Reuters) – European shares opened higher on Friday as gains were led by defensive healthcare stocks at the end of a week dominated by major central bank policy decisions. The continent-wide European STOXX 600 index rose 0.2% at 0717 GMT, with the healthcare index up 0.5%. The STOXX 600 had ended Thursday lower after the…
FRANKFURT (Reuters) – The German economy, Europe’s biggest, will shrink this year and inflation will stay above 2% at least through 2025, the Bundesbank said on Friday in a biannual update of its projections. The new forecasts came just a day after the European Central Bank lifted interest rates for the eighth straight time and…
By Rae Wee SINGAPORE (Reuters) – The yen lost some ground after the Bank of Japan on Friday kept ultra-low interest rates and forecast that inflation will slow later this year – reiterating its dovish stance that runs counter to hawkish policies taken by peers globally. As widely expected, the BOJ maintained its -0.1% short-term…
(Reuters) – BofA Global Research on Friday trimmed its China economic growth forecast for 2023, becoming the second Wall Street bank to revise forecast after the country’s May industrial output and retail sales growth missed forecasts. Economists led by Helen Qiao said they now expect China’s economy to expand 5.7% this year, compared with an…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares rose to a four-month high on Friday as U.S. economic data stoked expectations that the Federal Reserve is near the end of its rate-hike campaign, while the yen fell after the Bank of Japan maintained its ultra-easy monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan…
