MOSCOW, Dec 26- Slumping oil prices have put Russia's economy on course for a sharp recession next year, its finance minister said on Friday, as authorities scaled up their bailout for the first bank to succumb to the recent rouble crisis. The economy is slowing sharply as Western sanctions over the Ukraine crisis deter foreign investment and spur capital flight,...» Read More
The Swiss National Bank raised interest rates by 25 basis points for the seventh quarter running on Thursday, and said more increases were likely if the economy remained strong.
Central bankers no longer have the luxury of being able to "mumble on occasion," which many were prone to do in the past, a top Federal Reserve official said.
Consumer prices in Spain rose 2.3% on the year in May, down from a 2.4% annual rate in April, the National Statistics Institute said Wednesday.
Consumer price inflation eased to 2.5% in the 12 months ending in May, down from 2.8% in April, the government said Tuesday.
Surging food prices boosted China's annual consumer price inflation to a 27-month high of 3.4% in May from 3.0% in April, the National Bureau of Statistics said on Tuesday.
Inflation of around 3% in the United States since 2005 is too high for comfort in the longer term, Cleveland Federal Reserve President Sandra Pianalto said on Monday.
In an exclusive interview with CNBC, Michael Moskow, president of the Chicago Federal Reserve Bank, said he believes inflation expectations are “well contained” and he sees stronger economic growth ahead.
Chief financial officers are becoming more pessimistic about the U.S. economy, according to a survey by Duke University’s Fuqua School of Business. The CFOs expect slower growth in earnings, capital spending and hiring, the survey says. They’re also concerned about rising labor costs and weakening consumer demand.
Some consumer advocates fear that consumers may get less bang for their buck at the pump, as scorching heat physically expands the volume of gasoline -- while gasoline prices remain the same. Judy Dugan, research director at the Foundation For Taxpayer & Consumer Rights, told "Morning Call" that the heat expansion -- and ostensible dilution -- of gasoline affects consumers negatively.
Mike Malone, equity sales and trading analyst at Cowen and Company, told CNBC’s “Squawk on the Street” that strong growth isn’t fueling inflationary fears.
Richmond Federal Reserve Bank President Jeffrey Lacker said that while "core" inflation has fluctuated, there's no sign yet that it's headed lower. Lacker's comments echoed what he said two weeks ago in an exclusive interview with CNBC's Steve Liesman
Inflation hovering around 3% in the United States since 2005 is too high for comfort in the longer term, Cleveland Federal Reserve President Sandra Pianalto said on Wednesday.
China's central bank is keeping a close eye on inflation after a recent spurt in the price of pork, eggs and other food, Zhou Xiaochuan, governor of the People's Bank of China, said on Tuesday.
Inflation in the UK could rise to as high as 5% in the year ahead, a leading economist has warned, according to the Daily Telegraph.
The European Central Bank has revised upward its 2007 forecasts for euro zone growth and inflation, according to Financial Times Deutschland, citing sources.
U.S. economic growth should rebound in the course of 2007 after hitting a soft patch in the first quarter and the main threat to the economy is inflation, a top Federal Reserve official said on Friday.
Switzerland's first quarter gross domestic product grew a real (or inflation-adjusted) 0.8% from the fourth quarter of last year and increased a 2.4% year-on-year, the Swiss state secretariat for economic affairs (SECO) said.
Concerns about inflation trumped worries about the slumping housing market last month in the minds of Federal Reserve officials who voted to hold interest rates steady. While Fed officials said the downturn in housing was turning out to be more severe than expected, worries about inflation continued to dominate the May 9 discussions.
With inflation slightly above the target range for the Federal Reserve and the initial first quarter GDP reading at only 1.3%, two policymakers debated on "Morning Call" whether the economy is headed for a "hard" or "soft" landing.
U.S. crude oil prices slid as much as 4% Tuesday; and gasoline followed suit. Is the bull market winding down? Stephen Schork, editor of The Schork Report, and Eric Bolling, independent oil trader and CNBC contributor, told "Street Signs" viewers that it "could be the beginning of the end" -- but they don't recommend getting out of the market just yet.