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New Zealand petrol prices push inflation higher as rate rise looms

Rising petrol prices have pushed New Zealand's headline inflation higher ahead of the Reserve Bank's next policy review. Economists widely expect the central bank to raise the official cash rate by 25 basis points next week, even though the latest price pressure stems mainly from fuel costs rather than broader demand.

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US housing data weakens as Federal Reserve weighs rate hikes

US housing data weakened further in September, according to separate reports released Tuesday, even as the Federal Reserve weighs additional interest-rate increases. The figures add to signs that higher borrowing costs are weighing on home sales and construction activity. Economists say the reports complicate the central bank's next policy decision.

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