Bloomberg Australia’s central bank surprised investors by raising interest rates by twice as much as forecast and committing itself to “doing what is necessary” to rein in broadening inflationary pressures. Bond yields soared and stocks falls as the Reserve Bank of Australia (RBA) raised its cash rate by 50 basis points — the biggest increase in 22 years — …

Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda pointed to some positive changes that suggest progress is being made toward his stable inflation target while making clear that policy tightening still isn’t an option for now. Several data sets are showing rising inflation expectations and a higher tolerance for price increases among households, the governor said in a speech. “This …

  Bloomberg Deutsche Bank AG is moving hundreds of IT staff in Russia to Berlin as the lender braces for a potential closure of its technology center in the country, people familiar with the matter said. The bank has made offers to relocate to all of its about 1,500 employees at the Russian IT center in Moscow and St. Petersburg …

  Bloomberg Ukraine’s central bank more than doubled its benchmark interest rate in a first such move in four months, reactivating policy tools to stem inflation and shield the currency battered by the Russian invasion. The central bank raised borrowing costs to 25% from 10% in its meeting on Thursday, the highest level since September 2015 — and the top …

  Bloomberg Laurentian Bank of Canada advanced the most in more than a year after a surge in commercial lending helped fiscal second-quarter profit top analysts’ estimates and signaled that the firm’s turnaround is proceeding ahead of pace. The Montreal-based bank is up about 4% this year, the best performance in the eight-company S&P/TSX Commercial Banks Index. Laurentian’s shares top …

  Bloomberg A slowing US economy and brisk growth in Australia will trigger a rally in the Australian dollar to levels last seen more than a year ago, UBS Group AG’s head of currencies in Asia said. After rebounding from a two-year low set last month, the Aussie could rise 11% from that level to as high as 76 US …

  Bloomberg European stocks turned lower with US equity futures on persisting worries about high inflation and slowing growth. The dollar advanced. The Stoxx Europe 600 Index erased an early gain to trade 0.2% lower. S&P 500 and Nasdaq 100 futures slipped 0.4%. Government bonds falls across Europe as traders braced for a crucial European Central Bank meeting. Treasury yields …

Bloomberg Ken Griffin’s Citadel Securities is willing to make markets in exchange-traded funds that hold cryptocurrencies, if the regulators allow it. “We will be ready if and when those products are approved, but we are taking a measured approach,” Kelly Brennan, head of the firm’s ETF group, said in an interview at Bloomberg’s headquarters in New York, adding that the …

  Bloomberg European Union (EU) lawmakers sparred over how to design the bloc’s ambitious climate policies, underscoring the challenge of implementing binding climate-neutrality goals amid a war and unprecedented energy price spikes. Some European Parliament members, predominantly in the Socialist, Liberal and Green political groups, are seeking to further toughen proposals by the European Commission, while others, led by Christian …

  Bloomberg JetBlue Airways Corp improved its offer for Spirit Airlines Inc, boosting a breakup provision to $350 million and adding an upfront cash payment days before shareholders will vote on a pending buyout agreement with Frontier Group Holdings Inc. The revised offer increases JetBlue’s reverse breakup fee by $150 million and provides for about $164 million payable as a …