European Central Bank set to keep key rate at 1 percent, markets watch for exit plan
LONDON — The European Central Bank is expected to keep its benchmark interest rate unchanged at the historic low of 1 percent Thursday — and could indicate the Eurozone won't see growth strong enough to warrant a hike for quite a while. Figures later this month are expected to show that the 16 countries that use the euro joining the U.S. in leaving Recession. Its two largest economies, Germany and France, officially returned to growth during the second quarter. Most analysts think...

EU expects 2010 economic growth in better-than-expected rebound
Brussels — The European Commission on Tuesday predicted that the EU and Eurozone will grow in 2010 at a modest rate of 0.7 percent. In May, it forecast that the economies would likely shrink 0.1 percent in 2010. The EU executive said a "better-than-expected" rebound in the second half of 2009 would likely be followed by slower growth early next year. The EU and Eurozone likely exited Recession in the third quarter of 2009, it said, after five consecutive quarters of negative growth. The...

Global stocks slide after Fed, ahead of ECB
London (Reuters) - World stocks slid on Thursday following the Federal Reserve's decision to keep Interest Rates near zero for "an extended period" and ahead of policy decisions by the European Central Bank and Bank of England.

Eurozone inflation remains negative in October as strong euro undermines oil price gains
Brussels — Consumer Prices in the 16 nations that use the euro were down in October for a fifth consecutive month while Unemployment continued to rise, the EU statistics agency said Friday, suggesting the region's economic recovery was sluggish. Consumer Prices were down 0.1 percent from a year earlier. That is slower than the 0.3 percent annual drop in September, as companies and consumers started spending more after a long freeze in demand. The euro's recent surge against The Dollar...

Asia markets rise as SKorea reports faster growth
Bangkok—Asian markets mostly rose Monday, shrugging off a fall on Wall Street as South Korea's fastest growth in seven years underscored the region's strengthening economic recovery . U.S. stocks faltered on Friday as investors dumped stocks and locked in profits after the glow of a week full of strong earnings reports faded. But markets in Asia found new impetus after South Korea 's Central Bank said economic growth accelerated to 2.9 percent in the third quarter from the previous...

Asian markets mostly higher as US services sector improves, Australia hikes interest rates
Bangkok — Asian stock markets mostly rose Tuesday after the U.S. services industry, a mainstay of the world's No. 1 economy, showed its first growth in a year and Australia's Central Bank raised Interest Rates. Gains in Japan were tempered as the dollar weakened against the yen, weighing on exporter stocks. Oil Prices inched higher, taking a cue from stronger stock markets. Australia's benchmark index stayed in the green after the country's Central Bank unexpectedly raised its key...

Asian markets rise, shrugging off Wall Street fall as SKorea reports fastest growth in 7 years
Bangkok — Asian markets mostly rose Monday, shrugging off a fall on Wall Street as South Korea's fastest growth in seven years underscored the region's strengthening economic recovery. U.S. stocks faltered on Friday as investors dumped stocks and locked in profits after the glow of a week full of strong earnings reports faded. But markets in Asia found new impetus after South Korea's Central Bank said economic growth accelerated to 2.9 percent in the third quarter from the previous...

Federal Reserve Leaves Fed Funds Rate Unchanged
As always the Federal Reserve released a policy statement. It said household spending "appears to be expanding but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit." In September the Fed said that spending as "stabilizing," a more pessimistic POV. The Federal Reserve, while cautious about Inflation, indicated that the Recession had marked people with a cautiousness around spending. This would, the U.S. Central Bank said, mean that...

Australia leads with rate hike
T he world's economic policy makers, apprehensive over whether an economic recovery is truly taking hold, received a shot of confidence Thursday courtesy of Australia's Central Bank. Citing strong economic growth in Asia, where Australia sends the bulk of its exports, the Reserve Bank of Australia raised its benchmark lending rate a quarter point to 3.25 per cent, becoming the first Central Bank among the Group of 20 economic powers to lift borrowing costs cine the financial crisis began. The...

Roskilde Bank – taxpayers’ nightmare: PHOTO
Losses at Roskilde Bank now up at DKK 10 billion or 2,000 kr. per Dane. tekst del send Send artikel Til: (E-mail, adskil flere med komma) Fra (E-mail): Besked: print The Roskilde Bank scandal has developed into the worst possible billion kroner nightmare for the Danish state and its taxpayers. Losses have become greater than envisaged when the Bank was taken over by the Central Bank Nationalbanken and the Danish Contingency Committee for Winding up and Transfer of Banks, Savings Banks and...

Iceland's central bank cuts official interest rate by a percentage point to 11 percent
LONDON — Iceland's Central Bank on Thursday lowered its official interest rate by a full point to 11 percent as the country tries to get back on its feet after the credit crisis toppled its overweight banking system last year. The official rate had peaked at 18 percent between October 2008 and mid-March of this year, and had been left at 12 percent since June.

Arab States, U.S. Allies Plot to Ditch Dollar for Oil Sales: Report: PHOTO
Arab states held secret meetings with finance ministers and Central Bank governors in Russia, China, Japan and Brazil in a plot to end the pricing of oil in dollars, a move that would likely stoke tensions...

Arab States, U.S. Allies Plot to Ditch Dollar for Oil Sales: Report: PHOTO
Arab states held secret meetings with finance ministers and Central Bank governors in Russia , China , Japan and Brazil in a plot to end the pricing of oil in dollars, a move that would likely stoke tensions between superpowers China and the U.S. , according to a bombshell report in Britain’s Independent newspaper . Anonymous Gulf Arab and Chinese banking sources told the paper that countries planned to create a basket of currencies to replace the current system within nine years. The...

Banks pledge no more greed
THE big Banks have given unprecedented undertakings that should stop them raising rates beyond official increases. There is increasing speculation the Reserve Bank will lift its benchmark cash rate before Christmas. In recent times, the Banks have been willing to raise rates even without moves in the Central Bank's position, but Banks pledged this week not to do this in the near future. The new rate commitments from ANZ, the National, Westpac and St George follow Commonwealth Bank chief...

Eurozone jobless worst since 1999
Unemployment levels across the 16 countries that use the euro rose to 9.7% in September, the highest rate since January 1999. This brought the number of people unemployed across the Eurozone region to 15.3 million.

Australia lifts interest rates for second month in a row, to 3.5 percent
SYDNEY — Australia's Central Bank has raised its key Interest rate by a quarter percentage point for the second month in a row to 3.5 percent. Tuesday's decision was widely expected and underscores the Reserve Bank of Australia's concern that Inflation could take off as the country's economy recovers faster than expected from the global downturn. Australia last month became the first major economy to raise Interest Rates since the global financial crisis. It raised the official cash rate...

UPI NewsTrack Business
U.S. markets slide Tuesday NEW YORK, Nov. 3 (UPI) -- U.S. markets stumbled Tuesday with policy makers at the Federal Reserve headed into a two-day meeting in Washington. The start of the Open Market Committee meeting often puts investors into a two-day holding pattern as they wait for critical news on the Central Bank's lending rate decisions. Stocks retreated early, but railroad shares surged 11.58 percent after billionaire investor Warren Buffett said he would buy Burlington Northern Santa Fe...

Two Canadian scientists favorites to win Nobel Prize in Medicine
STOCKHOLM, Sweden - The Nobel Prize in Medicine will be awarded today, followed in the next week by the annual prizes in physics, chemistry, literature and economics and the Peace Prize. Alfred Nobel, the Swede who invented dynamite, established the prizes in his will -- except for the Prize in economics, which is a 1968 creation of Sweden's Central Bank. Two Canadian scientists whose discovery of stem cells paved the way for controversial research could be candidates for the 2009 Nobel Prize...

Australia raises rates from 49-year low
Australia became the OECD nation to raise Interest Rates on Tuesday when its Central Bank increased the official cash rate from 3 percent to 3.25 percent.

Australia Hikes Rate 25 Basis Points, As Expected
Los Angeles -- The Reserve Bank of Australia on Tuesday raised its policy cash-rate target 25 basis points, or a quarter of a percentage to point to 3.5%, on the heels of an equal rate-hike last month. The move matched economists' expectations, according to a Dow Jones Newswires survey, and comes on the heels of bullish economic data, such as Monday's report that Australian Home Prices hit a record high in the third quarter. The Central Bank said in an accompanying statement that core Inflation...

Australian central bank lifts interest rate by quarter point, optimistic on economy
SYDNEY — Australia's Central Bank unexpectedly raised Interest Rates by a quarter point Tuesday, the first major economy to increase the cost of borrowing amid signs its recovery from the global slump is gaining momentum. The Reserve Bank of Australia raised its cash rate to 3.25 percent from a 49-year low of 3 percent. Between September 2008 and April this year, the rate was slashed a total of four and a quarter percentage points as the financial crisis morphed into a global Recession....

Australian central bank lifts interest rate by quarter point, optimistic on economy
SYDNEY — Australia's Central Bank unexpectedly raised Interest Rates by a quarter point Tuesday, the first major economy to increase the cost of borrowing amid signs its recovery from the global slump is gaining momentum. The Reserve Bank of Australia raised its cash rate to 3.25 percent from a 49-year low of 3 percent. Between September 2008 and April this year, the rate was slashed a total of four and a quarter percentage points as the financial crisis morphed into a global Recession....

Australia first to raise interest rates
A ustralia's Central Bank raised its key cash rate by 25 basis points to 3.25 per cent on Tuesday and heralded more to come, saying it was safe to row back on stimulus now that the worst danger for the economy had passed. The Australian dollar jumped to a 14-month high and interbank futures slid as investors rushed to price in at least one more hike by Christmas, and Rates above 4 per cent in a year. The Reserve Bank of Australia's (RBA) decision made it the first of the Group of 20 Central...

Ron Paul discusses the Fed, Iran, Tea Party Protests and new book: VIDEO
2008 Republican Presidential candidate and Congressman from Texas, Ron Paul, sat down with Russia Today on Thursday to discuss the Federal Reserve and his bill, H.R. 1207, which would audit the Fed. Long time advocate of ending the Federal Reserve System, Ron Paul, sat down with Russia Today's Marina Portnaya to discuss his views on the United States Central Bank, Iran, the economy and many other domestic issues currently occurring. Portnaya immediately began asking questions on House...

Bank of Canada: what to watch for: PHOTO
As the Central Bank prepares to release its Monetary Policy Report, economists at Scotia Capital flagged the loonie and exports as ‘potentially market-moving issues” Print or License Close Recommend |   See also: Globe and Mail Update Published on Thursday, Oct. 22, 2009 8:42AM EDT Last updated on Thursday, Oct. 22, 2009 9:02AM EDT T he Bank of Canada will release its quarterly Monetary Policy Report on Canada's economic outlook Thursday. Look for “potentially...