China's central bank said on Wednesday it will step up the implementation of its prudent monetary policy and keep liquidity reasonably ample.

Thailand's central bank raised its key interest rate for the first time in nearly four years on Wednesday to counter surging inflation, signalling further gradual increases as an economic recovery gains momentum.

Wednesday's consumer price index report showing U.S. inflation didn't accelerate in July was the first "positive" reading on price pressures since the Federal Reserve began tightening policy, Chicago Fed President Charles Evans said, even as he signaled he believes the Fed has plenty more work to do.

U.S. consumer prices were unchanged in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for weary Americans who have watched inflation climb over the past two years.

The U.S. government posted a $211 billion budget deficit for July, a 30% drop from the $302 billion deficit reported in the same month last year, as receipts grew slightly and COVID-19 relief spending fell sharply, the Treasury Department said on Wednesday.

China's war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now, according to sources familiar with the deliberations.