World Bank President David Malpass warned that some of the price spikes "will not be transitory."

"It's time for more people to have a seat at the table when decisions are made that impact everyone."

The FOMC will convene as the economy sends mixed signals about two of the central bank's top priorities: employment and prices.

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World central bankers will meet later this month at an annual conference in Jackson Hole, Wyoming

The rapidly emerging digital banking sector has become a significant competitor to the traditional banking market.

This week's calendar is dominated by the Federal Reserve's two-day policy meeting, which is expected to show central bankers raising their inflation forecasts.

The United Kingdom on Wednesday said it will adopt new medical advice to offer most people under 30 an alternative to AstraZeneca if possible.

The news provided a massive boost to investors who were already in a strong buying mood after Joe Biden's US election win at the weekend.

The World Bank on Monday said the debt of the world's 73 poorest countries grew 9.5 percent last year to a record $744 billion.

The economic outlook remains exceptionally uncertain, with the Covid-19 pandemic continuing to exert a substantial toll on economies and societies.

The mood in Asia was more downbeat compared with earlier in the week.

Buying was also boosted by news that Trump had expanded the use of a coronavirus treatment using plasma from people who had recovered from the disease.

The US has registered a record 865 deaths in 24 hours -- taking its death toll to 3,873.

The talks came after criticism that the G20 has been slow to address the COVID-19 pandemic, which has left more than 37,500 dead worldwide.

There is a broad consensus that the disease, which has wiped trillions off market valuations, will cause a global recession.

The death toll in the US rose to nine, many linked to a nursing home in the Seattle suburbs, while the overall number of infections shot past 100.

The positive sentiment filtered through to oil markets, where dealers are betting on major producers cutting output to address tumbling demand.

Growth forecasts for the first quarter of 2020 and the year as a whole have been lowered by most economists.

The hatred comes amid reports that Harry and Meghan have been paid up to £775,000 by the firm for attending the summit held in Miami last week.

The royal family annually attends a service at Westminster Abbey on March 9 to commemorate Commonwealth Day.

World Bank head David Malpass said the group plans to lower its global growth forecast owing to an expected hit to China.

Weakening global growth and President Donald Trump's trade wars together hit US exports.

France's economy minister Bruno Le Maire warned that a currency like Libra could undermine sovereign nations' control over their exchange rates.

The Brexit-supporting UK tabloid Sun branded bloc leaders "EU dirty rats," accusing "Euro mobsters" Tusk and Macron of "ambushing" May.

European Union leaders are pressing for a second UK referendum on Brexit, according to reports.

In the aftermath of Britain's vote to leave the EU in June 2016, many experts had warned that Britain's financial services industry would see hefty job losses.

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More than 2000 bank branches have closed in the UK since 2015.

Prime Minister Najib Razak, who set up the fund, is facing May 9 national elections that will test his legitimacy.