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New Zealand's central bank on Wednesday raised interest rates by 25 basis points to the highest in more than 14 years to 5.5% and reiterated inflation remains too high even as it still forecast a recession this year.
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The Indian rupee, having opened slightly weaker, crawled up on Wednesday, supported by dollar inflows and recovery on the Chinese yuan, traders said.
Zimbabwe’s dollar slumped 26% at an auction on Tuesday, after a report by two separate commissions said it was “overvalued” and urged the government to loosen foreign currency controls.
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India's inflation has moderated, but lingering weather-related uncertainties still pose headwinds, the governor of the Reserve Bank of India said on Wednesday.
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A look at the day ahead in European and global markets from Tom Westbrook