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Australia's central bank on Monday raised its forecasts for underlying inflation to above its 2 to 3 percent comfort zone, strongly suggesting that further increases in interest rates might be needed to restrain price pressures and cool the red-hot economy
Soaring global oil costs helped drive U.S. import prices up at the steepest rate in nearly 1-1/2 years during October, according to a Labor Department report on Friday that was likely to heighten concern about energy-driven inflation.
The dollar fell to one-and-a-half-year lows versus the yen Friday, as fears of wider credit-related losses at U.S. financial institutions had investors dumping risky assets and anticipating more Federal Reserve rate cuts.
Euro zone economic growth will be slightly better than expected this year thanks to a robust third quarter, but financial market turbulence will slow it next year and in 2009, the European Commission said on Friday.
Shares of US Airways Group led major U.S. airline stocks lower on Thursday, as the sector matched a steep decline in the broader market.
Ben Bernanke’s latest assessment of the economy shows the Fed’s job of balancing inflation with a slowing economy is more difficult than ever, leaving policymakers undecided on further rate cuts.
The prepared speech given by Federal Reserve Chairman Ben Bernanke on the economic outlook before the Joint Economic Committee on November 8, 2007.
Fed Chairman Ben Bernanke said the U.S. economy faces risks in both growth and inflation, suggesting the Fed will holding off deciding on further rate cuts.
South Korea's central bank held its main interest rate steady at 5.0 percent for the third month in a row on Thursday, as widely expected, amid turbulent global markets and despite growing inflationary pressures.
Unemployment in Australia unexpectedly ticked up from 33-year lows in October but the number of full-time jobs increased by the biggest amount in 16 years, underlining the continued strength of the economy.
Japanese machinery orders rose in the July-September period and are forecast to keep going this quarter, supporting the growth outlook for the economy, but financial market turmoil looks set to keep a lid on interest rates for the next few months.
U.S. worker productivity rose at the strongest pace in four years in the third quarter, pushing labor costs down, the government said Wednesday in a report offering comfort to the inflation-wary Federal Reserve.
The risks posed by the credit market turmoil and inflation were about balanced, and there was some improvement in inflation, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Wednesday.
Australia's central bank raised interest rates to an 11-year high on Wednesday as it battled to contain inflation, a decision charged with unusual political implications just two weeks before a national election.
It's been less than a week since the Federal Reserve hinted it was done lowering interest rates. Yet Wall Street is already clamoring for yet another cut.
Higher crude oil prices will force consumers to dig even deeper into their pockets to pay this winter's heating bills, as costs for heating oil, natural gas and propane will be more than previously expected.
James Owens, the chief executive of Dow component Caterpillar, sees a soft landing in store for the U.S. economy.
Fed Chairman Ben Bernanke may not have many soothing words for Wall Street when he testifies before Congress on Thursday.
Billionaire investor George Soros forecast on Monday that the U.S. economy is "on the verge of a very serious economic correction" after decades of overspending.
Former Federal Reserve Chairman Alan Greenspan said on Tuesday that falling U.S. home prices and high inventories of unsold properties presented a major risk to the U.S. economy and financial markets.