Bloomberg The world’s top central banks reacted too slowly to accelerating prices, according Swiss National Bank President Thomas Jordan. “Inflation has been underestimated globally,” Jordan said in Zurich, adding that leading rate setters “very likely waited too long” combating it. “But you have to say: Uncertainty was exceptionally high in this situation — and stays high,” he said. “Central banks ...

  Bloomberg Pakistan’s central bank kept its benchmark interest rate unchanged for a second consecutive meeting to support an economy staring at crises worsened by deadly floods. The State Bank of Pakistan maintained the target rate at 15% , as forecast by 40 of 43 economists surveyed by Bloomberg. Three expected a cut ranging between 25-50 basis points. The decision ...

  Bloomberg Asia’s top chip stocks tumbled on Tuesday, ensnared in an escalating US-China tech race that has erased more than $240 billion from the sector’s global market value. Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, plunged a record 8.3% while Samsung Electronics Co. and Tokyo Electron Ltd. also declined. The selloff spread to the foreign-exchange market ...