Page 207 - Rep News Today

The Reserve Bank of New Zealand will scale back its tightening pace to a quarter-point rate hike on Wednesday as inflation runs hot even as the economy slows, according to a Reuters poll of economists who were split on where rates would peak.

Ending coverage of the medication known as PrEP, which was mandated for health insurers under the Affordable Care Act, will result in at least 2,000 new HIV infections within a year, experts said.

The safe-haven U.S. dollar remained on the back foot on Wednesday following two days of losses as global financial markets regained a measure of stability on hopes a full-blown banking crisis can be averted.

Asian shares rose sharply on Wednesday while the dollar was on the defensive as easing concerns over the banking sector revived risk appetite, while Alibaba's stock soared on the internet behemoth's plans to split into six units.

Crude prices rose for a third session on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supplies and fears of a global banking crisis eased.

Foreign inflows into Indian government bonds, which showed signs of a pick-up late last year, may not sustain as yields are unlikely to fall due to sticky inflation and large government borrowings, foreign investors said.

A look at the day ahead in markets from Mike Dolan.

The Central Bank of Kenya (CBK) will raise its key policy interest rate by 25 basis points to 9.00% later on Wednesday in its latest move to brake still-rising inflation, a Reuters poll predicted.

South Africa's rand slipped in early trading on Wednesday as local markets traded cautiously ahead of an impending central bank rate decision the following day.

UBS could not depend on a relatively inexperienced chief executive as it embarks on the biggest banking merger of the decade. That’s the best explanation for why Chair Colm Kelleher on Wednesday said the Swiss bank was replacing CEO Ralph Hamers with erstwhile boss Sergio Ermotti. Though the move violates several corporate-governance red lines, it improves the group’s chances of successfully absorbing stricken rival Credit Suisse .