Former Deputy Governor of Novosibirsk Oblast, Yuri Petukhov, was detained in Moscow with drugs. The 58-year-old ex-official was allegedly under the influence of cocaine and found with several packages of prohibited substances. He has confessed and is cooperating with investigators.
Australian share markets opened lower with the ASX 200 falling 0.76% to 8,620 points, dragged down by mining stocks following weaker iron ore prices. Key developments include rising multiple job-holding to 978,000 people, the RBA deputy governor speaking on the economic outlook, ASIC commencing a formal investigation into KPMG, and concerns over expiring fuel excise cuts that could raise petrol prices.
Former Hyogo Prefecture Deputy Governor Yasutaka Katayama, who resigned over allegations against Governor Motohiko Saito, announced his candidacy for the Takasago City electoral district in the upcoming prefectural assembly election. Katayama stated his intention to support Governor Saito's reform initiatives.
The Bank of Italy’s deputy governor floated the evaluation of tokenized SEPA payments, as the ECB experiments with tokenized digital payment frameworks to avoid stablecoin competition.
Ryoo Sang-dai, senior deputy governor of the Bank of Korea, has signaled the possibility of a rate hike, citing better-than-expected economic growth of 1.7 percent in Q1 — the fastest quarterly expansion in 5 1/2 years — driven by strong semiconductor exports. This marks the first time a BOK monetary policy board member has indicated a shift away from rate cuts, with inflation potentially exceeding 2.2 percent. The central bank will hold its next policy meeting on May 28, chaired by new Gov. Shin Hyun-song.
The Appointments Committee of the Cabinet has approved RBI Executive Director Rohit Jain as the new Deputy Governor for a three-year term starting May 3, 2026. Jain, who has spent about 30 years at the central bank and was handling banking supervision as ED, will replace T Rabi Sankar whose tenure ended on Saturday. Jain becomes one of two deputy governors promoted from within the RBI, alongside SC Murmu elevated in October 2025.
The Indian government has appointed RBI executive director Rohit Jain as deputy governor for a three-year term beginning on or after May 3, 2026. Jain, a 30-year veteran of the central bank, succeeds T Rabi Sankar.
The Indian government has appointed Rohit Jain as a deputy governor of the Reserve Bank of India. Jain, currently an executive director at the central bank, will begin his three-year term on May 3, succeeding the retired T Rabi Sankar.
Ryoo Sang-dai, senior deputy governor of the Bank of Korea, will attend the ADB's 59th annual meeting in Samarkand, Uzbekistan, along with ASEAN+3 finance ministers and central bank governors. The officials will discuss regional economic conditions, financial cooperation, and ways to enhance the Chiang Mai Initiative Multilateralization, a US$240 billion regional liquidity pool.
Korea Zinc, the world's largest refined zinc smelter, hosted Tennessee Deputy Governor Stuart McWhorter at its Onsan metals refinery in Ulsan to discuss Project Crucible, a planned U.S. metals refinery in Clarksville, Tennessee. The company aims to break ground next year and begin producing 13 nonferrous metals from 2029. McWhorter said the project will support Tennessee's economy and strengthen critical materials supply chains.
Bank of England Deputy Governor Sarah Breeden has warned that record-high global stock markets do not reflect macroeconomic risks and will face an adjustment. She cited concerns about private credit markets, highly valued AI stocks, and other risky valuations. The FTSE 100 fell over 0.5% on Friday following her interview, amid wider market concerns about the Iran war.
Sarah Breeden explains ‘I’m not saying it will happen today, tomorrow, in 12 months’ time’, but system needs to be resilientSarah Breeden’s warning that share prices do not reflect the many risks facing the global economy may have pushed the market down this morning, suggests Russ Mould, investment director at AJ Bell.He explains:“The stock market reflects what investors think will happen in the future. While markets have been wobbly since the Middle East conflict unfolded, they didn’t pull back sharply in the early stages of the crisis, and more recently they’ve shown resilience. That suggests investors are confident the war will end quickly, and elevated oil and gas prices will retreat as supply is restored.“Oil prices currently trade at $105 per barrel which is higher than the sub-$70 price seen at the start of 2026, but below the $120+ level when Russia invaded Ukraine in 2022. One could argue current oil prices are high enough to cause pain for businesses and consumers as everything becomes more expensive. There are already signs it is causing problems for companies as they report cautious outlook statements.“Companies are considerably more pessimistic about the coming months“The German economy is being hit hard by the Iran crisis.” Continue reading...
Bank of England deputy governor Sarah Breeden has warned that stock markets are too high and will likely fall back due to multiple risks facing the global economy. Speaking to the BBC, she noted that asset prices are at all-time highs despite numerous risks, including high AI valuations and private credit market concerns. While not predicting an imminent correction, she emphasized the need for the UK financial system to be resilient enough to withstand a potential sharp adjustment.
Reserve Bank of India Deputy Governor Poonam Gupta outlines the central bank's strategy to navigate global economic hurdles and geopolitical conflicts, including the West Asia conflict. Gupta expresses cautious optimism about India's growth prospects, noting that positive surprises may follow initial negative shocks. The RBI plans to 'watch and wait' on inflation, which is projected above target but within band, while monitoring for second-round effects. The central bank believes the inflation targeting framework, now a decade old in India, has provided flexibility to respond to external shocks while maintaining credibility.
