Bloomberg South Africa’s central bank is under increasing political pressure to maintain “expansionary” monetary policy, Moody’s Investors Service said as the regulator prepares to challenge an instruction to change its mandate. The High Court in Pretoria on Tuesday will hear the Reserve Bank’s application to review the Public Protector’s order that lawmakers must change the constitution to make the central …

Bloomberg HSBC Holdings Plc faces as much as $300 million in legal and relocation fees as it prepares to move 1,000 staff to Paris, in one of the first indications of the cost of Brexit to the UK’s financial industry. Europe’s biggest lender took a $4 million charge in the second-quarter for “costs associated with the UK’s exit from the …

Bloomberg Italian economist Mario Draghi kept expectations low for inflation this summer, and July’s number is proving him right. Consumer-price growth in the euro area stayed at 1.3 percent — enough to argue that deflation risks have disappeared, but too little to meet the European Central Bank president’s goal of just under 2 percent. While it confirms Draghi’s prediction that …