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  • Federal Reserve Vice Chairman Donald Kohn, who has opposed setting inflation targets at the U.S. central bank, Friday said inflation goals can hold expectations steady and provide workers and businesses more certainty about the course of inflation.

  • Eurozone PMI Falls to 2-Year Low, Hit by Markets Friday, 21 Sep 2007 | 6:39 AM ET

    A global credit crunch knocked down Eurozone private sector growth to a two-year low in September as new orders plunged, a survey showed on Friday, making any further interest rate hike this year unlikely.

  • Asian Markets Close Mixed, U.S. Inflation in Focus Friday, 21 Sep 2007 | 5:15 AM ET

    Asian markets had a mixed end to the week as worries about U.S. inflation grew on the back of a persistently weak U.S. dollar. Japan closed lower but South Korea finished at a seven-week high despite spending most of the session in flat territory.

  • China, Japan Renew Currency Swap Agreement Thursday, 20 Sep 2007 | 9:05 PM ET

    China and Japan have renewed a currency-swap agreement originally signed as part of the 2001 region-wide Chiang Mai agreement to head off a repeat of Asia's 1997/98 financial crisis.

  • Stocks closed lower as a better-than-expected earnings report from financial bellwether Goldman Sachs was offset by record-high crude prices and a plunging greenback. "When Bernanke cut rates people thought the glass was half-full now today it looks like it is half-empty," said Phil Roth, chief technical analyst with Miller Tabak.

  • Bernanke: Fed Will Act To Curb Fallout of Credit Ills Thursday, 20 Sep 2007 | 1:54 PM ET
    Federal Reserve Board Chairman Ben Bernanke.

    Federal Chairman Ben Bernanke told Congress the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout from the mortgage mess.

  • Greenback at 30-Year Low vs. Canadian Dollar Thursday, 20 Sep 2007 | 1:00 PM ET
    American Dollar and Canadian Dollar

    The Canadian dollar hit parity with the U.S. dollar for the first time in 31 years Thursday, capping a 62 percent rise from 2002 on the back of booming commodity prices and a deepening disenchantment with the greenback.

  • Jobless Claims Fall; Manufacturing Activity Rises Thursday, 20 Sep 2007 | 12:07 PM ET

    The number of laid-off workers filing claims for unemployment benefits fell to the lowest level in seven weeks, an unexpected sign of improvement for the jobs market.

  • King Denies Policy U-Turn in Northern Rock Case Thursday, 20 Sep 2007 | 10:11 AM ET

    The Bank of England denied on Thursday it had performed a U-turn over its stance on not bailing out markets in the Northern Rock case.

  • Full Text of Ben Bernanke's Speech on Subprime Lending Thursday, 20 Sep 2007 | 9:31 AM ET

    The following is the full transcript of the speech made by Federal Reserve Chairman Ben Bernanke on Sept. 20, 2007, before the U.S. House of Representatives' Committee on Financial Services,  on the subject of subprime mortgage lending and mitigating foreclosures.

  • Northern Rock Takeover Hopes Ebb, HBOS Denies Problems Thursday, 20 Sep 2007 | 7:13 AM ET
    Customers line up to enter a Northern Rock branch in Bromley, in south-east London, 14 September 2007.

    Shares in beleaguered U.K. bank Northern Rock tumbled over 30% to a record low on Thursday amid renewed concerns that a suitor may not materialize to pull it back from the brink.

  • Asian Markets Close Mixed, Japan Makes Gains Thursday, 20 Sep 2007 | 5:45 AM ET
    A man uses his mobile phone in front of electronic stock boards at the Australian Securities Exchange (ASX Ltd.) headquarters in Sydney, Australia.

    Asian stocks were mixed in lackluster trade Thursday. Markets drifted in a narrow range in and out of positive territory. But Japan, South Korea and Australia managed to make some gains. 

  • U.K. August Retail Sales Beat Forecasts Thursday, 20 Sep 2007 | 4:54 AM ET

    British retail sales volumes rose more strongly than expected in August but retailers had to slash prices for a second consecutive month to lure in  customers, official data showed on Thursday.

  • U.K. Supermarkets Accused of Price Fixing Thursday, 20 Sep 2007 | 3:42 AM ET

    Five major British supermarket chains and five processing companies fixed prices on dairy products, adding hundreds of millions to consumer bills, the Office of Fair Trading said Thursday.

  • Yuan Rise to Spur Domestic China Growth Thursday, 20 Sep 2007 | 12:55 AM ET

    A more flexible yuan would not hold back China's growth or cause deflation but would help Beijing rebalance its economy towards domestic consumption, a top U.S. Treasury official said on Thursday.

  • Japan Corporate Sentiment Improves But Capex Soft Wednesday, 19 Sep 2007 | 10:21 PM ET

    Big Japanese firms grew more confident about business conditions in the current quarter, a government survey showed on Thursday, but softer capital spending plans dimmed the outlook of the economy.

  • Dollar Strengthens on Fed Rate Cut Wednesday, 19 Sep 2007 | 4:55 PM ET

    The dollar rallied from a 15-year low against a basket of currencies Wednesday, as investors bet the Federal Reserve's interest rate cut Tuesday will help boost a slowing U.S. economy.

  • After the Surprise Rate Cut: Are CEOs Happy Now? Wednesday, 19 Sep 2007 | 3:22 PM ET

    Chief executives such as Ara Hovnanian were the among the loudest voices calling for the Federal Reserve to cut interest rates. Now, after the Fed's surprisingly sharp reduction in rates on Tuesday, CNBC asked several CEOs if they're happy.

  • Wells Fargo Chairman Sees Mortgage Recovery Wednesday, 19 Sep 2007 | 2:20 PM ET

    Wells Fargo Chairman Richard Kovacevich said Wednesday the U.S. mortgage industry will recover following further short-term pain, led by better-diversified lenders less exposed to market vagaries.

  • Fed Still Faces Tough Fight Against Recession: Experts Wednesday, 19 Sep 2007 | 2:16 PM ET
    Federal Reserve Board Chairman Ben Bernanke.

    The Fed’s  rate cuts will do little if anything to help the mortgage and housing industries in the short-term--and the central bank is just at the beginning of a long, hard fight to head off a recession, experts say.

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