Singapore’s economy grows 6.5% on year in the third quarter, missing estimates

A cyclist rides on Esplanade bridge as buildings stand in the Central Business District in Singapore on Monday, July 6, 2020. Wei Leng Tay | Bloomberg | Getty Images SINGAPORE — Singapore’s economy grew 6.5% in the third quarter of 2021 compared to a year ago, official advance estimates showed on Thursday. Analysts polled by … Read more

IMF cuts its global growth forecast, citing supply disruptions and the pandemic

A man passes by a poster of the annual World Bank Group and International Monetary Fund meetings October 11, 2021 in Washington, DC. Alex Wong | Getty Images News | Getty Images The International Monetary Fund is now less optimistic about the global economy for 2021, but still sees reasonable growth over the medium term.  … Read more

China’s central bank keeps the brakes on economic stimulus

People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018.  Jason Lee | Reuters BEIJING — China’s central bank policymakers pushed back Tuesday on expectations they would take aggressive measures to boost economic growth. “China’s monetary policy remains within a normal range,” said Pan … Read more

European Central Bank to announce tapering in December, analysts say

European Central Bank President Christine Lagarde during the live streaming of a press conference following the ECB’s governing council meeting. Xinhua News Agency | Xinhua News Agency | Getty Images LONDON — The European Central Bank will announce the reduction of its Covid-related stimulus in December, four analysts told CNBC amid an economic improvement in … Read more

Fed’s Kaplan is worried about inflation and risk-taking and wants to announce taper in September

Dallas Federal Reserve President Robert Kaplan would like to see the central bank announce next month that it will begin tightening its policy reins. Among his reasons is a general belief that the economy can withstand a little less help from the Fed. But Kaplan also said he’s concerned about inflation and “excess risk taking” … Read more

Bank of England keeps policy unchanged, warns of ‘more pronounced’ period of inflation

View of the Royal Exchange and Bank of England in London. Vuk Valcic | SOPA Images | LightRocket | Getty Images LONDON — The Bank of England left its monetary policy unchanged on Thursday, but warned of a more pronounced period of above-target inflation in the near term. The central bank also raised its inflation … Read more

Indian shares hit record highs as investors focus on earnings and interest rate decision

A security guard walks past the National Stock Exchange of India building in Mumbai, India. Dhiraj Singh | Bloomberg | Getty Images Indian shares hit a record high on Wednesday as investors remained upbeat in the middle of corporate earnings season and ahead of the central bank’s policy meeting. The Nifty 50 index rose 0.79% … Read more

China’s digital yuan could pose challenges to the U.S. dollar

China is beating the U.S. when it comes to innovation in online money, posing challenges to the U.S. dollar’s status as the de facto monetary reserve. Nearly 80 countries — including China and the U.S. — are in the process of developing a CBDC, or Central Bank Digital Currency. It’s a form of money that’s … Read more

Foreign travelers to China will be able to use the digital yuan, central bank says

A sign shows this department store cashier register accepts e-CNY, the digital currency issued by China’s central bank. Barcroft Media | Barcroft Media | Getty Images BEIJING — Foreign travelers to China will be able to use the government-developed digital yuan without a local bank account, the country’s central bank said in a paper published … Read more

European Central Bank sets its inflation target at 2% in new policy review

The President of the European Central Bank Christine Lagarde delivers remarks during a joint press conference in Lisbon, Portugal. Horacio Villalobos | Getty Images News | Getty Images LONDON — In a major policy review presented on Thursday, the European Central Bank decided to revise its inflation target and allow consumer prices to overshoot when … Read more