As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
Trump said he "is revoking" a federal waiver that allowed the state to craft its own rules on greenhouse gas emissions from vehicles.Politicsread more
Wall Street economists think the Fed will cut rates by 25 basis points at its September meeting but have differing views about what will happen in the future.Marketsread more
J.P. Morgan Chase chief Dimon says he doesn't think the U.S. is close to recession and called the Fed's Powell "a quality human."Marketsread more
Check out the companies making headlines in midday trading.Market Insiderread more
The unspecified action comes after the U.S. accused Iran of carrying out the weekend attacks on critical Saudi oil installations.Politicsread more
Drone and missile debris recovered by investigators at the Saudi Aramco attack site is proof of Iranian culpability, a Saudi defense ministry representative told media on...World Politicsread more
Four Wall Street firms downgraded FedEx after the company's poor earnings report.Marketsread more
The Business Roundtable said its members forecast that growth this year will clock in at 2.3%, down from last quarter's estimate of 2.6%.Politicsread more
Some worry the regulators will squander an opportunity to crack down on potentially monopolistic behavior due to their own infighting.Technologyread more
– This is the script of CNBC's news report for China's CCTV on July 22, Friday.
Welcome to CNBC Business Daily, I'm Qian Chen.
You might still remember that over weeks ago, Dollar/Yen was hanging around 100, and the market feared the Japanese government would step in soon to intervene the currency market by "helicopter money".
However, Bank of Japan Governor Haruhiko Kuroda said in an interview with BBC that he ruled out the idea of using "helicopter money" - or directly underwriting the budget deficit - to combat deflation, as policymakers in Tokyo gear up to expand existing stimulus programs.
Japanese markets have risen this month on speculation that authorities, battling to revive an economy dogged by decades of anaemic inflation, will resort to using helicopter money, possibly issuing perpetual bonds to underwrite public debt.
But in a BBC interview broadcast on Thursday, Kuroda said the central bank already had mechanisms in place to ease policy further if needed, and that Japan should not forfeit a clear separation between fiscal and monetary institutions.
A majority of economists polled by Reuters this week expected the BOJ to ease policy later this month, forecasting a combination of measures in another attempt to kick-start inflation.
The dollar slipped from a six-week high against the yen on Thursday after Bank of Japan chief Haruhiko Kuroda said the bank saw no need to stimulate the economy with "helicopter money."
After falling by 1 percent against the Japanese currency following the comment in a BBC Radio 4 interview, the dollar pared its losses as the overall theme of dollar strength against other major currencies began to reappear.
Investors had been betting on an aggressive round of stimulus from next week's BOJ meeting. Kuroda played down the idea of injecting cash directly to businesses and consumers, leading to a yen surge as strong as 105.41 yen per dollar.
The dollar had touched a six-week high above 107 yen before Kuroda's interview was broadcast on reports that a fiscal stimulus package from Tokyo might be as much as twice as large as previously suggested.
Analysts said the move lower in the dollar against the yen may have been based more on technical positioning and "steam being let out of the dollar's rally," than expectations that the BOJ is rethinking its bias to ease monetary policy.
CNBC's Qian Chen, reporting from Singapore.