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Euro zone economic growth is expected to slow to 1.8 percent this year from 2.7 percent in 2007, while inflation should stay well above the European Central Bank target, the European Commission said on Thursday.
Lately, many people are hearing an echo — faintly perhaps but distinctly audible — of the stagflation of the 1970s.
Japan's exports rose more than expected in January from a year earlier as solid shipments to Asia and Europe cushioned soft exports to the United States, a major destination for Japanese goods.
US inflation accelerated in January in a worrying sign for the Federal Reserve's campaign to bolster the flagging economy.
The dollar erased gains against the euro to trade flat Wednesday after minutes of the Federal Reserve's January monetary policy meeting warned of more risks to the U.S. economic growth outlook.
The Federal Reserve lowered its projection for economic growth this year, citing damage from the housing slump and credit crunch.
The U.S. economy will probably avoid a recession but inflation is also a risk and the Federal Reserve must not ignore this threat as it battles weak growth, one of the Fed's top policy-makers said.
The text of the minutes from the Federal Open Market Committee's meeting on January 29-30, released on February 20, 2008.
Futures were already down on the poor mortgage news (both purchases and refinancings were below expectations, and 30-year mortgage rates are now over 6 percent). They dropped again at 8:30 AM when core CPI came in at 0.3 percent in January, the biggest increase since June 2006.
The high-yielding Australian and New Zealand dollars climbed Tuesday, as gains in global equities and commodities bolstered investor appetite for risky trades, outweighing worries about the health of the financial sector.
The Federal Reserve's interest rate cuts are appropriate to restore stability in financial markets and prevent damage to the broader economy, Minneapolis Fed President Gary Stern said on Tuesday.
Australia's central bank considered raising interest rates by a more aggressive 50 basis points at its Feb. 5 policy meeting, minutes of the meeting showed on Tuesday, pointing strongly to further hikes ahead.
The dollar recovered in trade thinned by a U.S. market holiday on Monday, as investors locked in profits following the currency's worst weekly performance of the year so far.
The dollar fell against most major currencies Friday after data showing sharp declines in consumer sentiment and New York area manufacturing rekindled fear that the economy continues to slouch toward recession.
A slew of weak economic news and stronger than expected inflation news is weighing on stocks ahead of the Presidents’ Day weekend. Consider: .
Former U.S. Federal Reserve Chairman Alan Greenspan on Thursday said the U.S. economy is "clearly on the edge" of a recession.
The Bank of Japan left its policy rate target unchanged at 0.5 percent on Friday as uncertainty persists over the nation's economic outlook despite resilient growth figures for the last quarter of 2007.
On Tuesday, we had the Warren Buffett rally. On Valentine's Day, it was the Ben Bernanke selloff.
The dollar dipped against the euro and yen Thursday after Federal Reserve Chairman Ben Bernanke said the U.S. economic outlook had worsened and that the central bank would act as needed to support growth.
Fed Chairman Bernanke told Congress the country's economic outlook has deteriorated and signaled that the central bank is ready to keep lowering rates.