Bloomberg The secret behind Federal Reserve Chairman Jerome Powell’s surprise U-turn on monetary policy can possibly be found in comments he made in New York a year and a half ago. Asked how he’d respond to what was then a hypothetical scenario of below target price rises and low unemployment, Powell replied: “My own view would be that we have …

Bloomberg Standard Chartered Plc is considering options for its Islamic banking unit in Malaysia, including a potential sale, people with knowledge of the matter said. The London-based lender has been gauging interest from potential buyers for the business, known as Standard Chartered Saadiq Bhd, according to the people. It is weighing an exit from Malaysia’s Islamic banking market as fierce …

Bloomberg The Philippines central bank left its benchmark interest rate unchanged for a second straight policy meeting, while cutting inflation forecasts for this year and next. The overnight reverse repurchase rate was held at 4.75 percent, Bangko Sentral ng Pilipinas said in a statement in Manila. The decision was in line with the forecasts of all 22 economists surveyed by …