Quantitative easing

Chinese consumer inflation rose more than expected in July to hit a five-month high, data showed on Aug. 9, providing some much-needed positive news on the world's number-two economy.

The reading comes as authorities struggle to kickstart activity among the country's army of consumers, with officials last week issuing a set of directives aimed at boosting buying.

Bank lending in the Eurozone saw a slight increase of 0.3% in May, as reported by a study from the European Central Bank.

This growth follows several months of low levels attributed to record-high interest rates, which likely deterred both lenders and borrowers, according to BNR.

Japan's central bank on March 19 scrapped its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programs.

The maverick policy dating back to 2013 was aimed at jump-starting economic growth and inflation after the country's "lost decades" of stagnant activity and prices in the world's number four economy.

After delivering a 250 bps rate hike last week to increase the one-week repo auction rate to 17.5 percent, the Central Bank has announced a series of measures on selective credits and quantitative tightening.

Japan's consumer prices rose 3.4 percent on-year in April, in line with market expectations, government data showed on May 19.    

The figure, which excludes volatile fresh food prices, followed a 3.1 percent rise recorded in both March and February.    

The banking crisis that hit Silicon Valley Bank (SVB) last week has spread. We recall with a shudder two recent financial contagions: the 1997 Asian Financial Crisis, which led to a deep Asian recession, and the 2008 Great Recession, which led to a global downturn.

Annual inflation in the Eurozone fell to 8.5% in January, according to Eurostat's preliminary data. This is the third month in a row that inflation has slowed.

The data comes ahead of the European Central Bank's first key meeting of the year. Later in the day, the Federal Reserve in the United States is expected to announce another interest rate hike.

The Turkish Central Bank on Jan. 19 held its policy rate at 9 percent for s second month in its Monetary Policy Committee's (MPC) first meeting of the year.

The bank has reduced interest rates by 500 basis points from August to November.

The European Central Bank will take its time to assess new data before tightening its monetary policy any faster, its president said on Feb. 7, amid fierce speculation that the bank would raise rates sooner than previously expected.

The easing of restrictions on domestic activity and international travel will aid the economy