Asian shares extended a global rally on Friday after upbeat U.S. economic data calmed sentiment, with Chinese stocks jumping for the second day following a rocky start to the week.
JACKSON HOLE, Wyo. - Wild swings in world financial markets this week have shown how events in China can potentially disrupt the Federal Reserve's carefully scripted policy plans. The turmoil, triggered by a rout in Chinese markets, also flagged a broader risk that the U.S. central bank may struggle to meet its inflation target until the rest of the world plays along.
The central bank remains focused on bringing down consumer inflation to its target of 4 percent by March 2018, supporting an economy growing below potential, and ensuring banks pass on rate cuts, according to its annual report. The RBI has projected consumer inflation will hit 6 percent by January 2016 before gradually easing to 4 percent two years later. Full Article
The global stock market rout of the past week was sparked by concerns over a possible interest rate rise by the U.S. Federal Reserve and not by the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters. Full Article
The father of a Virginia journalist killed in an on-air shooting said he would become a crusader for gun control, but analysts said there was little likelihood of legislation on the federal level any time soon, despite changes in some states. Full Article | Video
Katrina, 10 years on
President Barack Obama on Thursday heralded the progress New Orleans has made rebuilding since Hurricane Katrina battered the area 10 years ago but said more needed to be done to overcome poverty and inequality. Full Article