There are numerous takes on what made the Western world special during the era after World War II, including an especially large middle class, many years of peace and American hegemony. I’d like to nominate another candidate, namely that there was a rough correspondence between the major risks out there and the risks that government could afford to insure us ...

Bloomberg Australia left its key interest rate unchanged at a record low — as expected — amid the slowing of a hiring boom. Reserve Bank Governor Philip Lowe kept the cash rate at 1.5 percent, where it has stood since late 2016, as the central bank waits for inflation to strengthen. The nation’s jobs growth has declined to a three-month ...

Bloomberg Canada’s big banks don’t seem keen to follow Toronto-Dominion Bank’s lead on mortgage hikes — at least not all the way. Posted mortgage rates have diverged in the past week following rate hikes by Toronto-Dominion, Royal Bank of Canada, Canadian Imperial Bank of Commerce and National Bank of Canada. Bank of Nova Scotia and Bank of Montreal have stood ...