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World Bank slashes China growth forecasts
World Bank slashes China growth forecasts
Business and Economy
by  AFP

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said in a press release.

Japan central bank tweaks monetary policy, yen strengthens
Japan central bank tweaks monetary policy, yen strengthens
Business and Economy
by  AFP

Japan's central bank tweaked its longstanding monetary easing programme on Tuesday, in a surprise move that saw the yen strengthen quickly against the dollar while Tokyo stock markets fell. The move saw the yen strengthen rapidly against the dollar, with the greenback falling from a daily high of 137 yen to 133 within minutes of the decision.

Asian markets mostly down on worries over rate hikes, inflation
Asian markets mostly down on worries over rate hikes, inflation
Business and Economy
by  AFP

Most markets fell in Asia on Tuesday following a sell-off in New York as traders fret that central bank efforts to tame inflation will tip economies into recession. Adding to the selling pressure were comments from former New York Fed chief William Dudley, who told Bloomberg Television that any sign of optimism in markets could make monetary policymakers tighten even more.