US stocks closed an uneasy session lower as investors, uncertain if the worst of the credit crisis is over, refrained from extending Tuesday's huge advance.
The prepared speech given by Federal Reserve Chairman Ben Bernanke on Federal Reserve communications at the Cato Institute 25th Annual Monetary Conference in Washington, D.C. on November 14, 2007.
Euro zone growth rebounded more strongly than expected in the third quarter thanks to its three biggest economies, data showed, but economists said a looming slowdown would help keep ECB interest rates on hold.
British interest rates will need to fall in the coming months if inflation is to hit the central bank's 2 percent target in two years, the Bank of England signalled on Wednesday.
Federal Reserve Bank of Dallas President Richard Fisher said on Wednesday a decision on interest rates at the central bank's December meeting would depend on coming data, but emphasised that the economic risks were not all on the downside.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the Chinese retail sales jumped 18.1 percent in October from a year earlier, the fastest pace on record, propelled by rising incomes, accelerating inflation and windfall gains from the surging stock market.
Optimism about the U.S. economy among small businesses soured last month as a Federal Reserve interest cut intended to aid the economy instead triggered cutbacks in spending and hiring, a survey released on Tuesday showed.
German investor morale worsened in November to its weakest since February 1993, weighed down by worries about financial market turmoil and the impact of the strong euro, a closely watched survey showed on Tuesday.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the central bank will raise interest rates again before long to keep a lid on price pressures. Consumer price inflation quickened to 6.5 percent in October, matching the near 11-year peak scaled in August, from 6.2 percent in September.
Soaring food and petrol prices pushed British factory gate inflation to its highest level in nearly 12 years in October, denting expectations that interest rates are about to fall.
Japanese wholesale prices rose slightly more than expected in October from a year earlier on rising oil prices, but investors, preoccupied with global markets, stuck to the view that the Bank of Japan will wait until next year to lift rates.