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China's yuan volatility prompts intervention warning to big banks: end the 'big rises and falls'

After the Chinese currency’s recent weakening below 7 to the US dollar, foreign-exchange regulators say they will guide expectations, correct behaviours and curb speculation. ....

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Fed raises key rates but hints it may pause amid bank turmoil

The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signalled that it may now pause its streak of 10 rate hikes, which have made borrowing for consumers and businesses steadily more expensive. ....

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