ECONOMY & MARKETS

South Korea on Wednesday nominated veteran International Monetary Fund official Rhee Chang-yong as its new central bank chief, a pick who is widely expected to continue the bank's efforts to curb inflation with aggressive interest rate hikes.

World stocks climbed to five-week highs on Wednesday as investors ignored a broadening selloff in global bond markets fuelled by a combination of soaring inflation and hawkish comments from U.S.

Wall Street pushed stocks and Treasury yields down on Wednesday after both had powered higher earlier in the week as investors took in the strength of the economy and hawkish comments from U.S.

Asian equities hit three week highs on Wednesday as investors fled a meltdown in bond markets and sought refuge in cash, carry trades and beaten-down sectors such as technology, while the Ukraine conflict's threat to supplies kept oil prices firm.

Oil prices rose on Wednesday amid volatile trading on increasing concerns of global supply tightness from sanctions imposed on Russia, the world's second-largest oil exporter, and on signs that exports from Kazakhstan may be disrupted.

Oil prices rose in volatile trading on Wednesday, supported by disruption to Russian and Kazakh crude exports via the CPC pipeline.

Oil prices rose in volatile trading on Wednesday, supported by disruption of Russian and Kazakh crude exports via the CPC pipeline.

Oil prices rose on Wednesday as a reported drop in U.S. crude inventories increased concerns about tight global supplies amid the hit to Russian exports from economic sanctions.

The dollar climbed on Wednesday while the euro weakened as oil prices shot higher again with U.S.

The dollar climbed on Wednesday while the euro weakened as oil prices saw another jump with U.S.

The Australian dollar stood tall while the yen slumped further as higher energy prices continued to drive moves in foreign exchange markets on Wednesday.

The euro weakened against the dollar on Wednesday amid another sharp increase in oil and natural gas prices and while investors waited for U.S.

The dollar was flat against major peers on Wednesday as the boost from the U.S.

The Australian dollar marched higher and the Japanese yen continued its slide on Wednesday, as markets turned more positive on riskier assets and high commodity prices drove developments.

Japan's ruling coalition on Wednesday agreed to compile a fresh stimulus package to cushion the economic blow from surging fuel and grain prices caused by the war in Ukraine.

Finance minister Rishi Sunak will aim to show on Wednesday that he is helping Britons through the worst cost-of-living squeeze in decades while keeping his powder dry for bigger tax cuts before the next election.

Britain's economy will grow more slowly this year than previously predicted and inflation will be much higher, finance minister Rishi Sunak said as he gave a budget update which included measures to ease a cost-of-living squeeze.

British finance minister Rishi Sunak cut fuel duty and softened some of a looming payroll tax increase on Wednesday as he sought to alleviate a severe cost-of-living squeeze against the backdrop of slowing economic growth.

Cleveland Federal Reserve Bank President Loretta Mester on Tuesday said she would like to raise interest rates to about 2.5% by year end, with bigger rate hikes in the first half, and further tightening next year to bring down high inflation and keep it from getting entrenched.

Top trade officials from the United States and Britain will meet in Scotland in April after two days of talks in the U.S.

British government bond issuance will fall closer towards pre-pandemic norms in the coming financial year, when the market's biggest buyer over the last decade - the Bank of England - will move to the sidelines, according to a Reuters poll of primary dealers.

Western countries are refusing to engage with Russia at the World Trade Organization (WTO) in Geneva in a coordinated move that has already led to negotiations seizing up across a number of sectors, trade sources told Reuters.

Ukraine's spring crop sowing area may more than halve this year from 2021 levels to some 7 million hectares, its Agriculture Minister Roman Leshchenko said on Tuesday, versus 15 million hectares expected before the Russian invasion.

Federal Reserve officials are helping shape market expectations for sharper interest-rate hikes to curb the surge in inflation, but have not managed to dispel fears the tightening cycle could blow a hole in the economy and labor market.

Federal Reserve officials are helping shape market expectations for sharper interest-rate hikes to curb the surge in inflation, but have not managed to dispel fears the tightening cycle could blow a hole in the economy and labor market.

Red-hot inflation has Canadians opening their wallets wider at the grocery store and gas pump, but that's not stopping them from also spending on travel, new cars and home improvements as pent-up demand outweighs cost pressures, at least for now.

U.S. Deputy Treasury Secretary Wally Adeyemo will travel to Europe next week to coordinate sanctions with allies over Russia's assault on Ukraine and discuss next steps with partners, including targeting critical sectors of the Russian economy, a Treasury Department spokesperson told Reuters.

Brazil's recently announced tax cut for ethanol, sugar and soy oil imports should have little impact on trade deals in the short term and was driven more by politics than business, analysts said on Tuesday.

Global economic growth this year will manage to stay in positive territory despite the war in Ukraine, but a number of countries with already weak economies may be tipped into recession, International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday.