Bloomberg India’s foreign-exchange reserves rose past $400 billion for the first time ever, strengthening policy makers’ buffers ahead of an expected reduction in US stimulus. The stockpile stood at $400.7 billion on September 8, the Reserve Bank of India (RBI) said in a release. With the Federal Reserve set to shrink its balance sheet—details of which could be announced next …

Bloomberg The pound climbed to the highest level against the dollar since just after Brexit vote and UK government bonds tumbled. Sterling surged past $1.36 after Vlieghe, considered a dovish voter, turned hawkish to tell a conference that the moment was approaching for a rate hike. The premium to hold call options on the pound relative to puts rose to …

Bloomberg Governor Elvira Nabiullina really means it when she says the Bank of Russia will follow no predetermined course on rates. Its outlook will allow for pauses as well as cuts of 25 to 50 basis points, depending on forecasts and the situation with inflation and the economy, Nabiullina told reporters in Moscow. The governor spoke after the central bank …