Zurich Insurance CEO says Switzerland's status as an international financial centre is backsliding.

Fed Governor BARR warned rapid AI adoption may exacerbate inequality in the short term and urged policymakers to prepare for potential severe labor-market shocks. He said the scale and duration of AI’s impact will depend on regulatory safeguards established now. BARR cautioned that market power concentrated in a few AI firms could amplify inequality—boosting executives’ and shareholders’ wealth while smaller firms lose market share. He said most firms and their employees may not fully access continuously improving AI resources, reducing labor income share, raising market concentration and widening inequality. He did not address monetary policy or provide an economic outlook in his Yale speech.

BANK OF JAPAN policy board member ASADA said Japan's inflation has reached about 2%, so there is little point in further driving it higher.