The Bank of England has practically abandoned its target of moving inflation down to 2 percent, saying it won't consider raising interest rates until unemployment falls below 7 percent, Karlsson writes. The move isn't likely to change much policy, but it is an explicit reminder that inflation rates have been above 3 percent since 2005.
Japanese bond yields have started to move up again, rising above the pre-'Abenomics' level to 0.91 percent, Karlsson writes, something that worries many Japanese officials. Private demand has collapsed as investors have increasingly started to believe that the Bank of Japan through its purchases will actually achieve its new stated inflation target of 2 percent, a slump in demand that some have called a "bond buyer's strike."
Former football player Mark Batchelor speaks on his mobile phone, bearing a photo of the late Reeva Steenkamp, as he sits in court after Oscar Pistorius' sentencing in Pretoria, South Africa. Pistorius was given a five-year prison sentence for culpable homicide for the killing of his girlfriend, Ms. Steenkamp, last year.