Economy

• Japan's 10-year governmentBond Yieldhas moved above 3%.

• Reform UK says it would prioritise Channel crossings, tax thresholds, energy costs and university policy in its first 100 days in government.

Slower population growth can reduce pressure on housing and some infrastructure in the short term, but it can also constrain labour-force expansion. If the working-age population grows more slowly while the number of older residents increases, businesses may face recruitment challenges and public finances …

• Higher policy rates feed into mortgages, corporate borrowing and governmentDebtcosts.

• A man has been charged with preparation of terrorist acts, including alleged activity directed against Nigel Farage.

• The IMF says frequent shocks and elevated uncertainty are making it harder for countries to sustain stability and growth.

Unlike demand-driven inflation, an energy shock cannot be solved directly by higher interest rates. Monetary policy can prevent second-round effects from becoming entrenched, but tighter rates also weaken investment, housing and consumption. Policymakers must therefore distinguish between temporaryCommoditypressure and evidence that higher costs are …