The Bank of Japan has eased monetary policy by expanding asset purchases in a bid to boost growth, and left interest rates unchanged at between zero and 0.1%.
Economic weakness and record debt levels in Europe and the US are causing concerns for the health of the car industry. The US car market is expected to be more cutthroat than usual as sales drop and the returns of Toyota and Honda are completed.
The Reserve Bank of India has raised the policy lending rate by 25 basis points to 8.25% in a struggle to curb inflation which is at a 13-month high of 9.78%.
Gold, which usually rises as the dollar weakens, hit its third record in five days, notching a near 9 percent monthly gain for July. Meanwhile, HSBC has been granted access to trade gold futures in Shanghai.
Nestle, the Swiss food company, stated earlier this month that it has agreed to pay $1.7 billion for a 60 percent stake in a big Chinese confectioner. The deal is one of the biggest ever by a foreign company in China.
Corolla Financial Report: The Reserve Bank of India has hiked interest rates again in its attempts to curb inflation. With high food prices, and higher fuel prices looming, this move will likely turn out to be fruitless.
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