Economy

British pay rose by more than expected in the three months to October, official data showed on Tuesday, potentially adding to the Bank of England’s caution about how quickly to cut interest rates.

China will issue more government bonds, including local government special bonds, in 2025, the Central Financial and Economic Affairs Commission said, according to an article published by the official Xinhua news agency on Monday.

The foreign trade balance showed a surplus of 13.4 billion euros ($14.02 billion) in October, down from 16.9 billion euro the previous month and 18.9 billion euros in October 2023.

China is open to engaging and communicating with the economic and trade team of the Trump administration, the commerce ministry said on Thursday.

Australia’s central bank is ready to respond “with force” should potential U.S. tariffs hit global trade and threaten growth at home, a top official said on Wednesday, a day after it surprised markets by opening the door to an easing.

Wrapping up its December policy meeting, the Reserve Bank of Australia kept the cash rate unchanged at 4.35% but softened its hawkish stance. The statement omitted a previous line that the RBA Board was “not ruling anything in or out” as well as policy needing to remain restrictive.

China has pledged to implement more proactive fiscal stimulus measures and adopt moderately looser monetary policies in 2025, as per official readout from a key policy meeting held by the Political Bureau of the Communist Party of China Central Committee. 

President-elect Donald Trump’s return to the White House is seen fuelling a dealmaking revival that could bolster investment banking income to $316 billion globally next year, a jump of about 5.7% on 2024, data seen by Reuters shows.

However, they note that recent remarks from Federal Reserve officials have increased the likelihood that the Federal Open Market Committee (FOMC) might slow the pace of rate cuts sooner than previously expected, possibly as early as the December or January meetings.

The surprise declaration of martial law late on Tuesday caused a standoff with parliament, which rejected his attempt to ban political activity and censor the media, as armed troops forced their way into the National Assembly building in Seoul.