SYDNEY, May 4- Australia's central bank is likely to cut interest rates for a second time this year on Tuesday as a salve for a painfully high local currency and pallid business investment. A Reuters poll of 27 analysts found 20 expected the Reserve Bank of Australia to cut rates to 2.0 percent, while interbank futures imply around a 64 percent probability of that...» Read More
The Realtors told a room full of reporters Tuesday that existing home sales are “stable,” because they’re really stuck between 4.9 and 5.1 million units (that’s the seasonally adjusted annual rate). So that has everyone asking if we’re bumping along the bottom. I’m not so sure.
Oil prices, which are setting fresh records nearly every day, are likely to keep climbing until the weak US dollar starts recovering and more supplies become available.
The European Central Bank has to ask itself each month whether a rate rise is needed to control inflation, ECB Governing Council member Yves Mersch was quoted as saying in a newspaper report on Tuesday.
I've heard a lot anecdotally about home equity lines being frozen for no apparent reason, so when I got this email from Charles in Chicago, I just had to post it. Citibank actually lowered his line of credit to $116 below his current balance.
Record high oil prices have deepened economic pain and even energy producers have begun to fret, but at talks with their customers in Rome they blamed the U.S. dollar and said they could not halt the rally...
Business economists are turning pessimistic about the U.S. outlook and increasingly fear economy will slip into a recession in coming months.
Hawkish rhetoric from Federal Reserve officials and a rebound in the stock market has driven down market expectations for additional Fed rate cuts.
Wage and fiscal policy in the euro zone could buoy inflation and the European Central Bank may need to act on interest rates, ECB policymaker Axel Weber said in a newspaper interview released on Saturday.
Signs of renewed confidence in the U.S. financial system could support the dollar next week, provided March's housing reports do not revive chances of a steep interest rate cut.
Hawkish rhetoric from Federal Reserve officials and a rebound in the stock market has driven down market expectations for additional Fed rate cuts...
On TV today I’m telling the story of the city of West Palm Beach’s effort to save troubled borrowers. They’ve pulled together about a million dollars from a fund that was supposed to be for affordable housing as well as some HUD money, and opened a foreclosure assistance center right downtown.
European stocks may stage a relief rally next week, with financials leading the way higher, as investors welcome positive action from the troubled banks, analysts told CNBC.com.
The federal funds rate is now low enough to boost economic growth as the impact of previous interest rate cuts starts to kick in, Philadelphia Federal Reserve President Charles Plosser said Friday.
Increasing numbers of Americans are simply walking away from their houses and mortgages, increasing pressure on banks and the economy.
Executives at several top diversified U.S. manufacturers said they are starting to see signs of the slowing economy taking a toll on business, tempering their outlook for 2008.
The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.
While some of you may wonder why a home builder would even want to hammer a nail these days, they do still need to stay in business, and their business is to build. That said, there is new concern from builders today that the credit crunch on Wall Street is hitting small builders where they live, or at least where they want you to live.
Banks are so wary about lending that credit costs are pushed up despite cuts in interest rates, Fed Vice Chairman Kohn said. .
Factory activity in the U.S. Mid-Atlantic region contracted for a fifth straight month in April, a survey released on Thursday showed.
The number of US workers applying for unemployment benefits rose by 17,000, which was marginally less than expected, while those of workers remaining on jobless benefits were at the highest level in almost four years, a government report showed on Thursday.