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The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.
The dollar climbed Wednesday following comments from a Federal Reserve official who said it would be a mistake to say a U.S. recession is at hand.
Oil climbed within reach of $98 a barrel on Wednesday as a larger-than-expected draw in U.S. crude stocks offset worries over a U.S. recession this year.
Goldman Sachs today joins a growing roster of Wall Street firms, who say the U.S. economy will fall into recession this year. Watch for more reductions in stock price and earnings forecasts to follow.
This is a timeline of the European Central Bank's rate decisions for 2007.
The stock market may be the deciding factor in whether the U.S. economy tips into a consumer-driven recession this year.
U.K. markets down 1.5 percent on disappointing results from retailer Marks & Spencer (down 20 percent in the U.K.) and vague concerns that the U.S. slowdown may be spreading to Europe. Yesterday a confluence of events, including comments from AT&T about slowing consumer business, and poor commentary from Circuit City and Brinker, added to the poor sentiment.
Fed officials from opposite ends of the ideological spectrum had a similar message Tuesday -- that further rate cuts could lie ahead.
Asian markets rebounded in the afternoon session Wednesday after initially falling to three-week lows on the back of Wall Street's dismal performance Tuesday. Both Japan and South Korea clawed back into positive territory to finish the session stronger.
China's cabinet said on Wednesday that it would temporarily intervene in the market to curb price rises or basic necessities like food, underlining its concern over mounting inflationary pressures.
Oil halted a three-day slide to rise above $97 a barrel on Tuesday, lifted by a threat of violence in Nigeria's oil region and expectations of a further drop in crude stocks in top consumer the United States.
The Federal Reserve will cut lending rates aggressively in the first half of 2008 as the United States faces a possible recession, PIMCO fund manager Bill Gross said in an investment outlook posted on Tuesday.
The yen retreated across the board Tuesday as investors waded back into risky carry trades, sparked by gains in global equities and a rise in commodity prices.
Treasury Secretary Henry Paulson discusses the dollar, the housing market, China and fly-fishing with the Squawk Box news team.
Did you notice the scuffle between Iranian and American forces in the Strait of Hormuz over the weekend? Oil traders apparently did not. News that--in the past--would have sent crude futures rocketing higher.
Small business confidence in the U.S. economy tumbled for the second straight month in November because of worries that economic growth will slow, a survey released on Tuesday showed.
British retail sales grew at their slowest pace since March 2006 in December, making it the worst Christmas for retailers in three years, a survey showed on Tuesday.
Most Asian markets were edging higher in the afternoon session Tuesday following recent falls. Japan managed to finish slightly higher after spending most of the day in negative territory. But South Korea closed lower.
House prices in Britain recovered in December after three consecutive monthly falls, a survey by the country's biggest mortgage lender showed on Tuesday, easing fears of a precipitous decline in the property market.
Oil slipped nearly $3 to end just above $95 per barrel on Monday, as unseasonably warm weather and worries of a looming recession in top oil consumer the United States outweighed fresh tensions between Iran and the U.S.