Bloomberg European Central Bank (ECB) Executive Board member Benoit Coeure said the trade spat picked by the US risks increasing the burden on central banks — as well as hurting the poor — by dimming global growth prospects. Protectionist sentiment has already “contributed to tighter financial conditions,” Coeure said at the Ambrosetti Forum in Cernobbio, Italy. “A ‘trade war’ scenario …

Bloomberg India’s central bank kept interest rates unchanged for the fourth straight meeting and cut its inflation forecast citing lower food prices. Reserve Bank of India Governor Urjit Patel and his monetary policy committee retained the benchmark repurchase rate at 6 percent. The move was predicted by all 42 economists in a Bloomberg survey. Five of the six-member MPC voted …

Bloomberg Japanese banks, long content to foster the nation’s love for cash, are now diving into digital payments thanks to a regulatory change that threatens to usher in new rivals. In recent months, lenders around the country have announced a flurry of initiatives designed to grab a slice of the $50 billion market for electronic settlements. Projects are under way …