The policy of low interest rates led to misuse of capital, and restoring to its effective use leads to losses in the banking sector, said World Bank President David Malpass. "Investors around the world were making judgments based on maintaining zero interest rates for a protracted length of time...

According to Chief Cabinet Secretary Hirokazu Matsuno, Japan will explore adopting artificial intelligence technology such as OpenAI's ChatGPT chatbot if privacy and cybersecurity issues are fixed.   The top government spokesperson Matsuno made his comments just before OpenAI CEO Sam Altman...

After the center-left administration raised wealth taxes to 1.1%, a record number of extremely wealthy Norwegians are emigrating to low-tax nations.   According to data by the daily Dagens Naeringsliv, around 30 billionaires and multimillionaires from Norway left the country in 2022. It went...

High-profile IT and media leaders spoke with senators visiting California this week about their experiences working in and competing with China.   A group from the House Select Committee on the Strategic Competition between the United States and the Chinese Communist Party traveled to the...

The favored bond market indicator of an impending recession used by the Federal Reserve has plummeted to new lows, supporting the argument that the central bank will soon need to lower interest rates in order to boost economic growth.   According to Fed research, the most consistent bond...

When central bankers, finance ministers, and political leaders gather next week for the World Bank Group and International Monetary Fund (IMF) spring meetings, the record number of developing countries at risk of debt crisis will be high on the agenda.   Inflationary pressures, rising...

Following discussions with IMF chief Kristalina Georgieva on Tuesday, US Treasury Secretary Janet Yellen praised the IMF's move to lend money to Ukraine and urged the organization to do more to help nations in debt crises. According to the department's press office, Yellen "urged the IMF to deepen...

ECB spokesman Makhlouf: rate increases significantly affect financial circumstances. The European Central Bank's interest rate increase has a significant impact on financial conditions, and when choosing what to do next, ECB governors should consider the longer-term impact of rate increases, said...

Having been increasing the rate at 10 meetings straight, the Reserve Bank of Australia finally kept its benchmark interest rate at 3.6 percent on Tuesday. The bank stated that more time was required to evaluate how the economy and inflation would be impacted by tighter financing conditions....