BLOOMBERG Australia’s central bank signalled further policy tightening ahead after unexpectedly raising interest rates by a quarter-percentage point on Tuesday, sending the currency and bond yields surging. The Reserve Bank of Australia (RBA) increased its cash rate to 3.85%, the highest level since April 2012, in a decision predicted by only nine of 30 economists. Money markets rapidly revised up …

BLOOMBERG Morgan Stanley is preparing a fresh round of job cuts amid a renewed focus on expenses as recession fears delay a rebound in dealmaking. Senior managers are discussing plans to eliminate about 3,000 jobs from the global workforce by the end of this quarter. That would amount to roughly 5% of staff excluding financial advisers and personnel supporting them …

BLOOMBERG Banks in the euro zone curbed lending more than anticipated after borrowing costs jumped and turmoil gripped the financial sector, reinforcing calls for the European Central Bank (ECB) to slow the pace of its interest-rate hikes. Credit standards “tightened further substantially” in the first quarter, according to the ECB’s Bank Lending Survey. “The tightening for loans to firms and …