BLOOMBERG Sri Lanka vowed to soon restore a flexible exchange-rate regime after unexpectedly raising its benchmark interest rate as the troubled nation looks to secure a $2.9 billion International Monetary Fund (IMF) bailout to steady its economy. “Sri Lanka’s rupee will be fully market-driven from next week,” Governor Nandalal Weerasinghe said at a press briefing after the Central Bank of …

BLOOMBERG Mexico’s peso briefly strengthened past a key 18-per-dollar mark for the first time in five years as the nation’s high interest rates and proximity to the US lure traders. The currency rose as much as 0.7% to 17.9952 against the greenback, the highest intraday level since April 2018. The peso is the best performer of the year so far …

BLOOMBERG The Federal Reserve said that further interest-rate hikes would be required to restore price stability. “The committee is strongly committed to returning inflation to its 2% objective,” the Fed said in its semi-annual report to Congress. Officials expect that “ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is …