OTTAWA, Dec 19- Tumbling gasoline prices cooled inflation in Canada last month, providing the country's central bank with plenty of room to keep interest rates at their current low levels for some time yet. Core inflation, which strips out volatile items and is closely watched by the Bank of Canada, fell back to 2.1 percent from 2.3 percent, short of expectations...» Read More
So I just received a press announcement from Washington Mutual, “unveiling a new, industry-leading standard for mortgage brokers” with whom they do business. Ok, great I say! Good for you guys, implementing new groundbreaking standards to clean up the mortgage business once and for all. I read on.
The fate of the world economy hinges on what happens to house prices in America and that may not be a good thing, former Federal Reserve chairman Alan Greenspan said on Monday.
Britain will raise depositors' protection on their savings to 35,000 pounds, finance minister Alistair Darling will say on Monday after the country suffered its first bank run in more than a century last month.
If you want to know what former Fed Chairman Alan Greenspan thinks are the current chances of a recession, try this: When I sat down with him to do a “fireside chat” in Washington D.C., he said that he thought the odds of a recession were higher but still below 50 percent.”
Bouts of economic and financial market turbulence over the past 25 years have shown policymakers that transparency is the best protection against contagion from such events, European Central Bank president Jean-Claude Trichet said on Saturday.
The dollar hit another new low Friday, as U.S. inflation data reinforced expectations that the Federal Reserve may cut interest rates again.
St. Louis Federal Reserve Bank President William Poole said on Friday he would keep an open mind on policy decisions going forward but that markets should not factor in more interest rate cuts.
Recession talk is heating up as the slumping U.S. housing market threatens to shackle free-spending consumers, yet stocks remain near record highs, indicating that many investors see little cause for alarm.
U.S. consumers spent more freely in August, soothing immediate concerns that the housing bust would stall the economy, and inflation eased, helping clear the way for lower interest rates.
European stocks closed the week mixed as euphoria over lower-than-expected U.S. inflation data waned, and investors began looking ahead to next week's interest rate decisions from the European Central Bank and Bank of England.
Atlanta Federal Reserve Bank President Dennis Lockhart said on Friday that market turmoil could hit the U.S. economy and that a moderation in inflation gave the Fed room to cut interest rates last week.
Investment bank Goldman Sachs has slashed its forecasts for economic growth in the United States, Japan and Europe, joining numerous forecasters who are abruptly changing view since the start of a global credit crunch.
Euro zone inflation rebounded in September above the European Central Bank's target for the first time in a year but market turmoil depressed economic sentiment, making another ECB interest rate rise less likely.
Tight central bank monetary policies and well-grounded expectations of low inflation are to thank for low inflation in recent years, not globalization, Federal Reserve Governor Frederic Mishkin said on Thursday.
The probability of the U.S. economy slipping into recession has increased recently but is still less than 50/50, former Federal Reserve Chairman Alan Greeenspan said in comments broadcast on Friday.
I am writing this in Munich airport, yet again waiting for another delayed flight. Getting around Europe these days by aircraft is a frustrating business. Planes are full and aircraft movements appear to be overwhelming the ability of both the airlines and the air-traffic controllers to keep schedules. This notwithstanding the 'flexibility' of departure times already built into the timetable.
China on Friday unveiled a series of measures to tighten property lending in its latest attempt to cool the country's overheating real estate market and curb mortgage lending risks.
The dollar fell to record lows Thursday, hit by fresh evidence that a weak housing market could crimp U.S. growth and force the Federal Reserve to cut interest rates again.
Is the credit crunch becoming more of a crumple? There certainly are encouraging signs of life in the credit markets where just a few weeks ago there was a scary paralysis. But it's too soon to call an end to the crisis even though the stock market is clearly taking the improvements to heart.
Shares of Sallie Mae recovered some ground on Thursday, as traders bet that the endangered $25 billion deal to take over the student lender could be renegotiated at a lower price.