*Euro pressured as Greece, creditors negotiate debt deal. TOKYO, April 27- The dollar started the week on the defensive on Monday after more disappointing U.S. economic data reinforced expectations the U.S. Federal Reserve will not hike interest rates any time soon, while concerns about Greece's ongoing debt talks pressured the euro.» Read More
Fed Chairman Bernanke told Congress the country's economic outlook has deteriorated and signaled that the central bank is ready to keep lowering rates.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the state of the U.S. economy and financial markets delivered before the Senate Banking Committee.
Singapore cut its economic growth forecast for 2008 on Thursday after the first quarterly contraction since 2003, citing worries about a U.S. recession, and said inflation would be higher than it thought earlier.
Australia's jobless rate surprised by falling to a 33-year low of 4.1 percent in January, adding to concerns the drum-tight labor market was stoking inflation and cementing the case for an urgent rise in interest rates.
Japan's economy grew 0.9% in the last quarter of 2007, double the expected rate, but a likely slowdown this year meant analysts still saw the Bank of Japan keeping interest rates on hold in 2008, or possibly cutting them.
Fed Chairman Ben Bernanke has yet to win the hearts and minds of many on Wall Street. But a stand-out performance during his appearance before Congress on Valentine’s Day may bring him considerably more admirers.
Late yesterday afternoon--amid many email releases from National Association of Home Builders, which is holding its annual convention in Orlando--came THIS statement from the NAHB President:
South Korea's central bank on Wednesday held interest rates steady for a sixth straight month as widely expected, but bond futures recouped early losses after the Bank of Korea said inflation would gradually slow.
British housing-market sentiment continued to weaken in January, marking six months of pessimism in the sector, a key indicator showed Wednesday, as the number of surveyors reporting falling home prices increased to a level not seen since the recession in 1992.
Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday he expects the downtrodden U.S. housing sector to improve by the end of the year.
Another day, another press conference from Treasury Secretary Henry Paulson to announce another addendum to the “Hope Now” initiative to save troubled borrowers. I have to say I came away from this one scratching my head a bit more than usual.
The U.S. appears likely to avoid an economic downturn but the chances of a recession have risen, St. Louis Federal Reserve Bank President William Poole said Monday.
UK factory gate inflation surged to a 16-year high in January, while input price inflation reached an all time high, official data showed on Monday.
You just can’t make this stuff up. Apparently even a big builder’s daughter can’t seem to keep faith in the Florida housing market. According to an SEC filing, Wendy Topkis, daughter of Toll Brothers co-founder and Vice-Chairman Bruce Toll, is walking away from a Florida condo, just like everyone else. A Toll Bros. condo!! The Palm Beach Post says it best: Et Tu Wendy?
Australia's central bank bluntly warned on Monday that it would likely need to raise interest rates again to restrain inflation, even as it trimmed its outlook for economic growth.
One year ago today, HSBC announced its first writedown relating to subprime mortgages. So one year later, you have to ask, where are we in the process of saving subprime borrowers? Answer: damned if I know!
From the deadline for the Northern Rock bids to the rate decisions by the European Central Bank and the Bank of England, here are the events that have shaped this week:
In remarks to an audience in Honolulu, Yellen said that an extended spell of slow growth as the most likely outcome, but she later told reporters that a recession was within the range of normal forecasting error.
Japan's core machinery orders fell more than expected in December, suggesting that corporate activity is feeling the pinch from slowing U.S. growth. But manufacturers still forecast that core orders, regarded as a leading indicator of capital spending, would rise in January-March from the previous quarter.
Has the Fed's monetary policy sown the seeds for an enormous recession? Find out from strategic investor, Bill Fleckenstein.