Sri Lanka’s central bank set a new single policy rate of 8% on Wednesday, easing monetary settings below previously used benchmarks, in an effort to shore up the island nation’s fragile recovery from a deep financial crisis.
Most Asian currencies were largely unchanged on Wednesday, while the Japanese yen firmed against the dollar as markets were worried about the implications of new tariffs under incoming U.S. President Donald Trump.
U.S. President-elect Donald Trump threatened to impose additional trade tariffs on China, Canada and Mexico when he takes office, sparking increased concerns over a renewed trade war between the world’s largest economies.
The world’s largest cryptocurrency has been on an extended downturn since late last week as investors locked-in profits from a run-up to record highs. Traders were also somewhat disappointed as the crypto failed to clear the coveted $100,000 level.
The Australian government on Wednesday introduced a bill into parliament that would impose potentially billion-dollar fines on big supermarket chains that fail to comply with an industry code of conduct ensuring they do not mistreat suppliers.
