Bloomberg The European Central Bank (ECB) would risk exacerbating inequality if it were to raise interest rates before ceasing asset purchases, according to Executive Board member Isabel Schnabel. Such a scenario is one example of how considerations of the broader impact of monetary policy should feature in decision-making, Schnabel told a conference organised by the US Federal Reserve. She highlighted …

Bloomberg Stay away from US stocks and bonds next year, and seek out better returns in Europe and Japan. That’s the advice of Morgan Stanley’s strategy team, which sees fading monetary support and high valuations holding back American assets in 2022, even as growth improves and inflation moderates. Fundamentals are more attractive in Europe and Japan, where central bankers will …

Bloomberg Negotiators from almost 200 countries clinched a deal that seeks to keep the most ambitious goal of the Paris Agreement alive, breaking new ground in the fight against climate change but punting the hardest decisions into the future. After two weeks of often fraught United Nations COP26 talks, delegates agreed to reduce the use of coal, end “inefficient” fossil-fuel …