Indian interest rates unchanged
The Reserve Bank of India (RBI) has kept interest rates at record lows in a continuing effort to return the economy to growth. More
UK Retail sales fall for a third month in a row
Retail sales have fallen for a third successive month this month as recession-hit consumers tighten their belts, the CBI reports today.
In its monthly distributive trades survey, 32% of retailers reported that sales were higher than a year ago, while 47% said they were lower. The resulting balance of -15% marked the third month in a row of declining sales. More
John Kingman to step down as UKFI chief executive
The Government was facing further embarrassment today over its handling of the UK banking crisis after the man in charge of managing the taxpayers’ interest in the nationalised and part-nationalised lenders announced that he is to step down. More
Australia warns of asset bubble risks
Glen Stevens, governor of the Reserve Bank of Australia, said the dangers of too much borrowing chasing up asset prices had been all too evident in other countries.
Ã¢â‚¬Å“These risks have been reasonably contained so far in Australia, but it would be prudent not to push our luck here,Ã¢â‚¬Â he told a charity lunch. More
Regulator report blames speculators for oil price swings
The U.S. Commodity Futures Trading Commission (CFTC) is planning to issue a report next month that suggests that wild swings in oil prices were significantly driven by speculators, the Wall Street Journal reported on its website on Tuesday. More
EU to renew US bank scrutiny deal
The EU plans to renew an agreement allowing US officials to scrutinise European citizens’ banking activities under US anti-terrorism laws. More
Latest GDP to Show Progress, But Recovery Is Still Uncertain
Only optimists, however, may be willing to say the GDP report is the beginning of something powerful.
“I think this is a number that’s going to have a big impact,” counters Robert Brusca, chief economist of FAO Economics. “Everybody is talking about earnings data. The better the economy gets, the more people start looking at earnings. Right now, the most important thing is the environment. If GDP turns around, that’s the best earnings news you can have.” More
Fed’s Plosser: Rate Hike May Come Sooner Than Expected
“I think we will probably have to begin raising rates sometime in the not-too-distant future,” Philadelphia Fed President Charles Plosser said in an interview published on the Wall Street Journal Web site. More
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