A UN report showed food prices jumped last month by the most in 1.5 years. CNBC's Sara Eisen discusses what's behind the rise in food costs.» Read More
The euro rose against the dollar and the yen on Thursday after the European Central Bank left interest rates on hold but President Jean-Claude Trichet warned of "strong upward pressure" on inflation.
This is a timeline of the European Central Bank's rate decisions for 2007.
New Zealand's central bank held interest rates steady on Thursday at 8.25 percent as expected, and said it was likely to keep them there for longer than it had previously thought because of increasing inflation concerns.
The dollar rose to a one-month high against a basket of currencies Wednesday after reports showing robust job growth and productivity gains suggested a milder slowdown in the U.S. economy than many had thought.
The United States is at an "elevated" risk of economic recession because of housing woes, faltering confidence within financial markets and high oil prices, the nonpartisan Congressional Budget Office said Wednesday.
Growth in the U.S. service sector slipped in November, indicating some parts of the economy were feeling the effects of the housing downturn and credit market strains, according to a report released Wednesday.
Australia's central bank skipped a chance to raise interest rates on Wednesday as turmoil in global credit markets clouded the outlook for the world economy, even as economic growth at home hit a three-year high.
Abby Joseph Cohen, chief investment strategist at Goldman Sachs, says the U.S. economy will rebound in mid-2008, but the next few months will be bumpy.
U.S. chief executives' view of the economy improved in the fourth quarter, although they have become far more concerned about energy prices.
The yen rose against the dollar and higher-yielding currencies for a second day, with investors shying away from risky assets amid deepening concerns over the credit turmoil and tightening liquidity.
Federal Reserve Bank of San Francisco President Janet Yellen said on Monday that worsening financial conditions and weaker-than-expected economic data have raised downside risks to the economic outlook.
Financial market anxiety has rebounded and the process of rebuilding confidence will be "long and slow," a top U.S. Treasury official said on Tuesday.
The world is eating more than it produces and food prices may climb for years because of expansion of farming for fuel and climate change, risking social unrest, an expert and a new report said on Tuesday.
Australian retail sales rose less than forecast in October as consumers cut back on household goods purchases after months of heavy spending, reinforcing expectations the central bank will keep rates on hold this week.
The yen gained broadly Monday as investors cut exposure to risky carry trades amid expectations of widening financial sector losses tied to the U.S. subprime mortgage market.
Growth in U.S. factory activity slipped in November for the fifth straight month as tight credit conditions and the housing downturn restrained production, according to an industry report released Monday.
The Federal Reserve will cut interest rates by a full percentage point before June to help the housing market, Citigroup's chief economist, Lewis Alexander, said.
Australian inflation accelerated further above the central bank's comfort zone in November as petrol prices climbed, a private survey showed on Monday, suggesting interest rates might yet have to rise further.
The dollar surged against a basket of major currencies Friday and was on track for its biggest weekly gain in more than a year on profit-taking in the euro and month-end squaring up of positions by corporates.
The U.S. Treasury Department and mortgage industry leaders are putting the final touches on a plan that could save struggling homeowners from foreclosure by freezing interest rates before they reset sharply higher.