Expectations of how much central banks will push interest rates higher to get inflation under control have increased to such an extent that some are starting to talk about overkill. Markets now think that benchmark rates in the US will top out at about 4.7% (from 3.25% now), 3% in the euro zone (from 1.25%), and 5.8% in the ...

  If the Federal Reserve was hoping for some sign that inflation is subsiding, it was cruelly disabused by the latest figures for consumer prices. The headline rate fell back slightly in September, from 8.3% to 8.2%, but the more telling measure of core inflation, which excludes the cost of food and energy, reached the highest rate in 40 years, ...

  Bloomberg China’s biggest airlines are planning more international flights, a sign the government is aware of the country’s growing isolation as it persists with lockdowns and mass testing internally — hallmarks of its Covid Zero policy. China Eastern Airlines Corp., which was severely impacted by virus lockdowns in Shanghai, will operate 108 international flights a week from October 30 ...