Central banks

US stocks advance as jobs data dims prospect of Fed rate hike

The S&P 500 Index advanced 0.6 per cent by 9.42am in New York, rallying from the July 1 down session. Meanwhile, the technology-heavy Nasdaq 100 Index gained 0.4 per cent.

Philippines hikes rate again to temper war-driven inflation

While inflation eased in May to 6.8 per cent, it remains well above the Philippine central bank’s 2 per cent to 4 per cent target.

Rupiah breaches key psychological level as market rout deepens

The rupiah is Asia’s worst-performing currency in 2026, driven by concerns that elevated oil prices will widen Indonesia’s budget deficit through higher energy subsidy costs.

News analysis

Thousands of kilometres from Iran war, Asia’s currencies feel the strain

Weaker currencies are pushing up prices for essentials like rice sold in Philippine public markets.

US Fed chair nominee Kevin Warsh says he will not be a ‘puppet’ controlled by Trump

Kevin Warsh, U.S. President Donald Trump's nominee to be next chair of the Federal Reserve, testifies before a Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., April 21, 2026. REUTERS/Kevin Lamarque

Vietnam names new central bank governor, finance minister

Singapore considers adding gold storage for global central banks: Sources

Monetary authorities globally hold nearly 39,000 tons of bullion, or about 18 per cent of all gold ever mined, according to the World Gold Council.

Australia to ban surcharges on payment cards, cut bank fees

The Reserve Bank of Australia said it would remove card surcharging on designated Electronic Funds Transfer at Point-of-Sale, or EFTPOS, Mastercard and Visa networks from Oct 1.

China to allow more banks to handle digital renminbi, sources say

A sign indicating digital yuan, also referred to as e-CNY, is pictured at a shopping mall in Shanghai, China.

World War II leader Churchill to be removed from British banknotes

The new banknotes will not appear for several years. They will continue to feature a portrait of the monarch King Charles III on the other side.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.