Five Things You Need to Know to Start Your Day: Asia
Steve Huffman, co-founder and chief executive officer of Reddit Inc., during the company's initial public offering in New York on March 21, 2024.
Photographer: Michael Nagle/BloombergGood morning. Some central banks are getting less scared of inflation. Investors are making lots of money on Reddit. And regulators are training their sights on Apple once again. Here’s what’s moving markets. — Isabelle Lee
From Zurich to London to Washington, the great inflation scare that gripped the world economy after the Covid pandemic is suddenly no longer keeping central bankers up at night as the prospect of rate cuts become real. The Swiss National Bank unexpectedly slashed its key interest rate by 25 basis points, moving months ahead of global peers. The SNB’s move foreshadows possible easing later this year by the Federal Reserve and European Central Bank. Mexico’s central bank also cut interest rates in a split decision on Thursday.