MINSK, April 27- The World Bank said on Monday it saw Belarus's gross domestic product contracting 3.5 percent this year, sharply revising it down from an earlier forecast of 1.8 percent growth. Next year the contraction will continue, with GDP expected to decline 1 percent, Ruslan Penkevsky, the bank's senior economist for Belarus, said at a press conference.» Read More
The Fed and financial markets remain at odds over where the economy and interest rates are heading, and fresh Fed forecasts to be released Tuesday are unlikely to bridge that gap.
The dollar fell against the yen but held steady versus the euro Monday as global stock losses and high oil prices stoked uncertainty about the health of the U.S. economy and left investors wary of risky trades.
The painful collapse of the housing market along with the credit crunch will weigh down economic growth in the final three months of this year and cause economic activity to lag in 2008.
Time is running out for U.S. lawmakers to prevent millions of unsuspecting middle-income taxpayers from being hit with a tax meant for the very rich.
The dollar slipped on Friday, but was still on track for its biggest weekly gain in a month, with dealers wary of adding much to extended bets against the greenback with so much uncertainty surrounding the credit market.
Two top Federal Reserve officials on Friday suggested the U.S. economy is unlikely to need lower borrowing costs even as it navigates a possibly rocky stretch in the economy.
Chinese lunchtime television on Friday gave ordinary people a basic tip on how to play the currency markets: sell the dollar!
A top Federal Reserve official said it would take sharper than expected slowdown in growth to change the Fed's monetary policy stance in a Dow Jones interview released on Friday, casting doubt on market expectations for more interest rate cuts.
The mortgage crisis could have a "dramatic" impact on the economy by forcing banks and other financial firms to cut lending up to $2 trillion, a Goldman economist said.
U.S. Treasury Secretary Henry Paulson said on Friday Washington was following a strong dollar policy and indicated he expected it to rebound, emphasising the U.S. economy's long-term strength should help the currency.
U.S. industrial production unexpectedly fell in October, logging a 0.5 percent decrease, as output shrank at factories, mines and utilities, a Federal Reserve report on Friday showed.
The Federal Reserve's current policy stance should be just right to help the U.S. economy weather a rough patch in months ahead without triggering inflation, Fed Governor Randall Kroszner said on Friday.
China's surging food prices reflect international price rises and evolving domestic demand, senior agricultural officials said, denying risks of absolute shortages to feed a nation of over 1.3 billion.
Millions of Americans will drive their cars to visit family and friends over the Thanksgiving holiday, even though gasoline is above $3.00 per gallon, travel and leisure group AAA said Thursday.
The dollar rose against the euro but slipped against the yen Thursday as fears about the credit crunch's impact and falling equity markets led investors to pare back on profitable but extended trades.
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.
U.S. consumer prices rose a brisk 0.3 percent in October, which was in line with expectations and driven by the sharpest rise in energy costs in five months, the government reported on Thursday.
China's industrial production slowed more than expected in October under the weight of government tightening measures, but growth was still by far the strongest of any major economy.
The dollar fell against the euro on Wednesday as continued worries that a struggling U.S. housing sector and lingering credit problems weighed on sentiment and left intact a long-term declining trend.
U.S. retail sales rose a sluggish 0.2 percent in October while an inflation measure grew less than expected, according to government data Wednesday that may give the Federal Reserve more leeway to prop up a slowing economy.