Asian stocks rose, with the regional benchmark index heading for a two-week high, as investors awaited the conclusion of a Federal Reserve policy meeting. Japanese exporters rallied after the nation’s shipments increased more than analysts estimated.
The yen rose for the first time in three days versus the dollar amid bets Federal Reserve Chairman Ben S. Bernanke will refrain from saying the central bank is moving toward ending bond purchases at a press conference today.
Bank of England Governor Mervyn King will return to the scene of some of his most acidic public encounters today for the annual occasion that helped define his relationship with Britain’s banking industry.
Talks between the U.S. and China next month will assess shifting fortunes of the world’s two largest economies, as America emerges from a slump and Asia’s main engine of growth confronts fresh challenges, the U.S. Treasury Department’s top international official said.
Federal Reserve Chairman Ben S. Bernanke will probably say tomorrow after a central-bank meeting that policy makers will maintain current bond purchases until improvement in the economy changes their mind, said Marc Chandler of Brown Brothers Harriman & Co.
San Francisco has added 300 technology companies since 2010, helping it earn its highest credit grade in more than a decade. The fiscal gains haven’t been enough to keep investors from penalizing the city amid the worst losses this year in municipal bonds.
President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.