by News Editor
on 07. Sep, 2010
in Market Insights
Growing pressure on the Federal Reserve to print more money to bolster the U.S. economy will likely boost the yen and franc just as the Japanese and Swiss governments seek weaker currencies, if history is a guide.
Those currencies appreciated the most on a relative basis after Fed efforts betwee...
by News Editor
on 07. Sep, 2010
in Market Insights
Japan’s and Australia’s central banks signaled that the outlook for U.S. growth is deteriorating, making it tougher for them to set monetary policy.
The Reserve Bank of Australia extended a pause in raising interest rates “for the time being” today, even after the nation’s gross domestic product...
by News Editor
on 07. Sep, 2010
in Market Insights
German factory orders unexpectedly fell in July as demand in the euro region weakened, indicating the recovery in Europe’s largest economy is losing momentum.
Orders, adjusted for seasonal swings and inflation, declined 2.2 percent from June, when they surged a revised 3.6 percent, the Economy M...
by News Editor
on 07. Sep, 2010
in Market Insights
Greek Prime Minister George Papandreou reshuffled his Cabinet for the first time, demoting a key minister in charge of growth. Finance Minister George Papaconstantinou retained his post.
Michalis Chrisochoides, who until now headed the police ministry, will replace Louka Katseli as head of a reva...
by News Editor
on 07. Sep, 2010
in Market Insights
China's "big four" state-owned banks extended a combined CNY218.8 billion in new loans in August, Caing.com website reported, citing banking industry figures.
Lending by the "big four" -- Bank of China, Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of Chi...
by News Editor
on 07. Sep, 2010
in Economic Indicators
Bank of Japan Governor Masaaki Shirakawa said on Tuesday the central bank is always considering various policy options and will act in a timely and appropriate way when necessary.
"We will take the most appropriate action by examining the merits and drawbacks of various steps," Shirakawa told a n...
by News Editor
on 07. Sep, 2010
in Market Insights
The Bank of Japan kept borrowing costs and the size of its liquidity injections unchanged, taking a pause in monetary stimulus to monitor the yen’s moves and U.S. economic data after expanding a credit program a week earlier.
Governor Masaaki Shirakawa and his board left the bank-loan facility a...
by News Editor
on 06. Sep, 2010
in Market Insights
The jobless rate in the U.S. is likely to approach 10 percent in coming months as the economy fails to grow quickly enough to employ people rejoining the labor force, according to economists at BofA Merrill Lynch Global Research and Morgan Stanley.
Private payrolls climbed 67,000 in August, afte...
by News Editor
on 06. Sep, 2010
in Economic Indicators
Japan's coincident composite index (CI), which reflects current business conditions, rose 0.5 point to 101.8 in July, posting the second straight monthly gain after rising 0.1 point in June, the Cabinet Office said on Tuesday.
In May the index showed the first drop in 14 months, down by 0.1 poin...
by News Editor
on 06. Sep, 2010
in Economic Indicators
Australia’s central bank extended its pause in raising interest rates as concern that the global economic recovery may falter trumped evidence of an accelerating expansion at home.
Governor Glenn Stevens kept the overnight cash rate target at 4.5 percent for a fourth month, matching all 25 econo...