Bloomberg Australia’s central bank kept interest rates unchanged and warned a rising currency is expected to subdue inflation and weigh on the outlook for growth and employment. The Australian dollar has surged more than 11 percent this year, hampering the Reserve Bank’s efforts to transition the economy to growth led by exports like education and tourism. That prompted Governor Philip …

Bloomberg Mergers and acquisitions may be headed for a slowdown amid high valuations and an uncertain outlook around monetary policy, says William Vereker at UBS Group AG. “I look at record-high valuations across many exchanges, I look at a very liquid backdrop with the ongoing easing of monetary policy, you’ve got an uncertain outlook on interest rates,” said Vereker, global …

Bloomberg The reshuffle at the top of two of China’s largest state-controlled banks is the latest phase of a management change for the country’s $40 trillion financial industry, as the government seeks to restrain any turbulence ahead of a twice-a-decade meeting of the ruling Communist Party. Tian Guoli, formerly chairman of Bank of China Ltd., has been named as the …