ROME— Italy has again pushed back its balanced-budget goal, now aiming for 2016..» Read More
Britain's current account deficit hit a record high of 20 billion pounds in the third quarter, equivalent to 5.7 percent of GDP, official data showed on Thursday.
All nine members of the Bank of England's Monetary Policy Committee voted to cut interest rates by a quarter-point in December and even discussed whether slowing economic growth meant a bigger move might be needed.
The European Central Bank and Bank of England flooded money markets with funds on Tuesday as the UK central bank chief warned of a possible "self-reinforcing" downward spiral in credit.
The euro zone had a higher-than-expected trade surplus in October despite a continued rise in the euro as exports grew faster than imports, the European Union's statistics office said on Tuesday.
Russian President Vladimir Putin said on Monday he was ready to become prime minister if his close ally Dmitry Medvedev succeeds him, giving Putin a way to keep a grip on power after he leaves the Kremlin.
Euro zone services grew at a slower pace than expected in December, as the banking sector stalled, signaling a slowdown in the single currency area, a key survey showed on Monday.
Euro zone services growth cooled more than expected in December as the banking sector stalled while manufacturing activity eased marginally, but in line with forecasts, a key survey showed on Monday.
Euro zone inflation surged to 3.1 percent in November, the highest level since May 2001 according to Global Insight and above an earlier estimate of 3 percent, data from the EU statistics agency Eurostat showed on Friday.
Several top central banks including the Federal Reserve and the European Central Bank announced plans to address elevated pressures in short-term funding markets.
The European Central Bank kept rates on hold at 4 percent as expected on Thursday, bucking a global trend of monetary easing amid increased turmoil in the financial markets.
The Bank of England cut its main rate by a quarter of a percentage point to 5.5 percent Thursday amid fears of an economic slowdown because of a spillover from the credit crunch.
With major central banks cutting rates right and left, the European Central Bank risks being the only one fighting the monetary-easing trend. But there seems to be no other option for the ECB.
The Bank of England is still expected to hold interest rates at 5.75 percent on Thursday, but analysts say it is a close call, as expectations shifted towards the possibility of monetary easing following weak economic data.
Verbal intervention to try to stop the euro's advance is all that exporters will get for the moment, but if the going gets tough things may change, analysts say.
Unemployment in the 13 nations that use the euro fell to a new record low of 7.2 percent in October, the EU statistics agency Eurostat said Monday, as Europe's recent growth spurt cut jobseeker queues that are the longest in the industrialized world.
Euro zone factory output growth crept up in November from October's 26-month low, but is unlikely to regain its summer momentum soon, pointing to interest rates remaining on hold, a key survey showed on Monday.
A strong enough vote to ensure that President Vladimir Putin can manage a smooth succession, and not too strong to alienate the West -- Russia's election provided no nasty surprises for financial markets.
Euro zone inflation jumped more than expected in November to its highest in six and a half years and inflation expectations rose while economic sentiment worsened, highlighting the European Central Bank's rate dilemma.
The Bank of England will offer commercial banks emergency funds with longer repayment terms when it lends money next month, to ease potentially tight money markets at the end of the year, officials said Thursday.
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