Bank of Korea expects strong economic growth next year, boosted by spillover effects from the chip sector.

Financial Times, citing three people familiar with Andy Burnham’s thinking, reports Home Secretary Shabana Mahmood is expected to be appointed UK chancellor if Burnham becomes prime minister. Burnham’s spokesman declined to comment and said cabinet roles will be finalised on Monday only after he assumes office. One person familiar with the plan called the appointment a done deal; another said current energy secretary Ed Miliband—previously the frontrunner for chancellor—is now more likely to be foreign secretary. Colleagues said Mahmood discussed policy with Burnham this month, including economic issues, but has not been informed of any move and there is widespread speculation.

Fed's Williams said the 2% inflation target is appropriate and he does not want to change it.