ECONOMY

The latest inflation readings in the region ranged from nearly 16% in Romania to just over 20% in Hungary, way above central bank target bands ranging from 1% to 4%.

The bleak October trade figures highlight the challenge for policymakers in China as exports had been one of the few bright spots for the struggling economy .

The financial market turmoil caused by Britain's now-abandoned tax-cut plan, still-high inflation and rising interest rates are reasons for Canada to be very cautious about adding stimulus, analysts said last month.

Climate change will cost between six percent and 30 percent of GDP by 2050 in Nigeria, Africa's largest economy, according to experts.

The downgrade also affects banking sectors in the Czech Republic, Hungary, Poland and Slovakia, and Moody's said the grouping includes those most at risk of energy price inflation and possible energy rationing.

Energy-intensive industries, such as aluminium, fertilisers, and chemicals are at risk of companies permanently shifting production to locations where cheap energy abounds, such as the United States.

The country emerged from a decade-long debt crisis in 2018 and since then has relied solely on bond markets to cover its borrowing needs.

It said in a statement that in its assessment it had focussed on banks' exposure to river and surface water flood risk in the Auckland region.

The Resolution Foundation estimated that tax rises and spending cuts of at least 30 billion pounds would be needed to ensure debt was falling as a share of gross domestic product by the 2026-27 financial year.

In a fresh report, the International Labour Organization cautioned that the outlook for global labour markets has deteriorated in recent months.

The high-profile summit is the first in almost three years in the city since anti-government protests, the imposition of a sweeping national security law and strict COVID-19 containment measures clouded its status as a premier financial centre.

The RBNZ's Deputy Governor Christian Hawkesby said while banks' capital buffers would take a hit in a stagflation scenario, where high inflation is paired with negative economic growth, they would remain well above the regulatory minimums.

China's factory activity contracts on Covid Sporadic Covid-19 lockdowns around China have dampened demand and business confidence.

Europeans are bracing for a difficult winter as Russia crimps gas supplies in the wake of the Ukraine war, sending heating bills soaring and worsening a cost-of-living squeeze for millions.

In the immediate aftermath of Moscow sending its armed forces into Ukraine on Feb. 24, the central bank hiked its key rate to 20% from 9.5% in order to mitigate risks to financial stability.

Gross domestic product increased by 0.3% compared to the previous quarter in seasonally adjusted terms, the federal statistics office said.

South Korea's central bank and financial regulators scrambled this week to contain the risks of wider financial fallout as local short-term yields spiked, crippling some major institutions' ability to meet near-term funding needs.

France's economy grew 0.2% in the July-September period, in line with market expectations, preliminary data from the INSEE official statistics agency showed.

Worldwide economic prospects have dimmed this year as countries have faced higher living costs, tighter financial conditions and increased uncertainty following Russia's invasion of Ukraine.

The Commerce Department's advance third-quarter gross domestic product on Thursday is expected to show underlying demand in the economy flat last quarter amid a slowdown in consumer spending and moderate growth in business investment.

Speaking to Reuters in Berlin a day before the European Central Bank is widely expected to raise rates by 75 basis points, the fund's managing director said it would take until 2024 for the positive effect of central banks raising rates globally to be felt.

Following a meeting of his new-look cabinet, Sunak was set to engage in his first parliamentary joust against opposition Labour leader Keir Starmer, who is demanding a snap general election.

At the top of Sunak's agenda will be preparation for a fiscal statement, keenly anticipated by financial markets, which is scheduled for Oct. 31 but which the Times newspaper reported could be pushed back by a few days.

Data from the Australian Bureau of Statistics (ABS) on Wednesday showed the consumer price index (CPI) jumped 1.8% in the September quarter, topping market forecasts of 1.6%.

A poll by the Athens-based Eteron think tank this year showed that for 83% of 1,007 respondents aged 18-44, affordable housing was their top concern.

If investors are warming to Wall Street, however fleeting that rapprochement may turn out to be, they could not be giving Chinese markets a colder shoulder.

U.S. West Texas Intermediate (WTI) crude futures for December were down 48 cents, or 0.6%, to $84.84, reversing the previous session's gain.

One bright spot is that most major economies already in a recession or heading into one are starting with relatively low unemployment compared with previous downturns.

The country's finance secretary said on Monday the government would not allow the peso, which has already hit multi-year lows, to breach 60.