the foreign correspondents club has asked hong kong's chief executive for an explanation. augustb hosted a talk in by person whose pro-independent party was outlawed. the justice department is suing ubs for selling mortgage-backed securities by "knowingly and repeating the making fraudulent statements about the loan supporting the trust." it relates to 40 securities ubs sponsored, managed, or offered. the bank says the suit is not supported by the facts or the law. the bank of australia has given an upbeat assessment of the economy, saying growth and hiring are spurring inflation. the quarterly statement on monetary policy reiterated that higher interest rates are likely to be appropriate at some point, but says there is no strong case for a move at the moment. as predicted by everyone, the fed stood still, but remains on course to hike next month. the policy statement notes economic activity rising at a strong rate in the labor market continues to firm. it repeated plans for gradual rate increases in the coming months. the fomc added that risks to its outlook seemed balan