Rate cut by Indian central bank
The repo rate – at which the Reserve Bank of India injects short-term money into the banking system – was cut by a quarter percentage point to 4.75%.
The move came as the central bank said it expected economic growth to slow to 6% in the current financial year. More
Meltdown losses of ‘$4 trillion’
The International Monetary Fund (IMF) has warned that potential losses from the credit crunch could reach $4 trillion (Ã‚Â£2.75tn) and damage the financial system for years to come. More
Deflation returns to Britain for first time since 1960
The Office for National Statistics said the RPI was 0.4% lower in March than it had been in March 2008. That was the first negative reading since March 1960, when Harold Macmillan was prime minister and John F Kennedy was running for the US presidency. More
SpainÃ¢â‚¬â„¢s Falling Prices Fuel Deflation Fears in Europe
With the combination of rising unemployment and falling prices, economists fear Spain may be in the early grip of deflation, a hallmark of both the Great Depression and JapanÃ¢â‚¬â„¢s lost decade of the 1990s, and a major concern since the financial crisis went global last year. More
Asian stocks track Wall Street’s losses
Asian stocks slid and government bonds climbed on Tuesday after a steep rise in bad debt at Bank of America renewed credit fears, sparking worries a 25% month-long rally in global equities had peaked.
Major European stock futures were up 0.1%, pointing to a slightly higher open, after better-than-expected results from British retailer Tesco though the health of the banking industry was a nagging concern. More
Japan Will Issue $110 Billion in Bonds for Stimulus
The Japanese government said on Tuesday it would issue bonds worth 10.82 trillion yen (US$110 billion) to fund its planned stimulus package to try to rescue Japan from its deepest recession since World War Two. More
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