Sri Lanka unexpectedly cut interest rates to protect economic growth from the risk of a U.S. default, as time runs short for Congress to agree on raising the debt ceiling to pay back the world’s benchmark bonds.
Sri Lanka’s central bank governor hailed the island nation’s ability to contain inflation and keep the currency stable as he sought to convince investors its economy is avoiding the pitfalls affecting neighboring India.
Jim Yong Kim once slept in his office and drove dusty roads to help his patients in a slum near Lima. When he returned to Carabayllo in Peru two decades later as World Bank president, a motorcade whisked him from a luxury hotel past welcome signs on banners and brick walls.
Gold rebounded from the biggest drop in 33 years as BlackRock Inc. said sales didn’t reflect fundamentals and an Asian central banker said policy makers may take the opportunity to buy. Silver also advanced.