*CPI data due on Thursday, Dec. 12 at 1200 GMT. BANGALORE, Dec 11- Indian inflation is forecast to remain close to 9- month highs in November, a Reuters poll showed, putting further pressure on the central bank to follow up on its back-to-back interest rate hikes despite slowing economic growth.» Read More
We reported some pretty nasty numbers from the Mortgage Bankers Association yesterday: A 51% rise in new foreclosures nationwide to the highest rate in the history of the MBA survey. And it’s a big bad number like that that is going to add more fuel to the fire in Washington among all those folks who have been bandying about the idea of some kind of government...
International Monetary Fund Managing Director Rodrigo Rato said on Friday he expected a downward revision of IMF world growth estimates for 2007 and 2008 because of global credit turmoil.
Euro-zone interest rates have further to rise, European Central Bank Governing Council member Axel Weber said on Friday, although other policymakers stressed no move is imminent given uncertainty over the credit crunch.
Alan Greenspan, once the world's top central banker, said ongoing credit turmoil reminded him of the 1987 and 1998 market crises.
The eurozone finance ministers' chairman said on Friday French President Nicolas Sarkozy was neither noble nor correct to claim some of the credit for the European Central Bank's decision to keep interest rates on hold.
South Korea's central bank held its benchmark interest rate steady at 5.0 percent on Friday, as widely expected, pausing after two consecutive quarter-percentage point increases aimed at cooling rapid credit and money growth.
Dallas Federal Reserve President Richard Fisher said on Thursday that there is still a lot of analysis ahead before the next Fed decision on interest rates.
Stocks closed higher on strong economic data, but gains were limited because of uncertainty whether the Federal Reserve will cut interest rates. "Today the data was great--the ISM, retailer sales--but tomorrow it might not be," said Stephen Porpora, managing floor broker at William O'Neil.
The markets are expecting a rate cut. The Federal Reserve is reluctant to give them one. Add to the mix some surprisingly good economic news. What've you got? A lot of confusion.
The action today highlights the great difficulties the Fed is facing. Retail sales are stronger than expected, but the response is modest because there is an underlying sentiment of anxiety about the consumer regardless of the current data. Sell into any retail rally is the mantra of the bears.
Most homeowners probably don't know what it is--or even how to pronounce it. But the London Interbank Offered Rate, or Libor, is having a noticeable impact on adjustable rate mortgages.
Turmoil stemming from subprime mortgage delinquencies could dampen demand for homes and ultimately slow economic growth, Federal Reserve Governor Randall Kroszner said Thursday.
Turbulence buffeting global financial markets risks tipping economies into recession but policy makers must avoid overreacting to it for fear of making the situation worse, St. Louis Federal Reserve Bank President William Poole said on Thursday.
European stocks closed broadly higher Thursday after Europe's two most prominent central banks left rates unchanged to fully assess the effect of the recent turmoil in financial markets.
U.S. service sector growth held steady in August, although employment conditions deteriorated to their weakest level in nearly five years, according to a report released Thursday.
Looks like Costco's disappointing August store sales was an anomaly. The good news is that retailers beat expectations, almost across the board. A number of retailers noted that some school districts in Texas and Florida went back to school a week later, which gave a boost in August.
Another rise in euro-zone interest rates looked assured last month, but the turmoil in the credit markets has brought pressure on European Central Bank President Jean-Claude Trichet to keep rates at 4%.
The European Central Bank added 42.245 billion euros ($57.66 billion) in temporary overnight funds to money markets on Thursday to ease tensions on the euro interbank lending market.
A gauge of U.S. labor demand was higher in August but recruitment activity recovered lessthan it typically does in the month, in another sign of a cooling job market, a report said Thursday.
Financial market turbulence leading to tighter mortgage lending standards noticeably hurt housing activity in most Federal Reserve districts in recent weeks, adding uncertainty about the recovery of the downtrodden housing sector, the Fed said on Wednesday.