Eshe Nelson

Robert E. Hall and Michael Woodford were awarded the prize for their insights that helped policymakers become “better equipped to deal with shocks in the economy,” the committee said.

French bond investors are demanding sharply higher interest rates, a cautionary development for other high-debt countries.

The trends pushing up yields, including the war in Iran and high government debt levels, are unlikely to dissipate soon.

The economy has been resilient despite higher prices stemming from the war in the Middle East, but that could change quickly if cold weather forces countries to tap depleted gas reserves.

The decision was announced a day after data showed the fastest pace of price increases in months.

The bank, fighting price pressures spurred by the war in the Middle East, raised its benchmark rate to 2.5 percent.

Around the world, rising bond yields reflect shifting expectations on how fast policymakers will raise interest rates.

Novo Nordisk’s chief executive, Mike Doustdar, is a year into a corporate turnaround. He says investors are still underestimating the promise of the company’s drugs.

Government borrowing costs are hitting multi-decade highs around the world, reflecting anxiety about debt levels, deficits and inflation.

The U.S. Treasury joined efforts in Tokyo to stem the yen’s slide against the dollar, highlighting the broader risks posed by turmoil in Japanese markets.

As chancellor, John Healey, who quit as defense secretary in the former government, will fill one of the most consequential posts, overseeing fiscal and economic policy.