LONDON, July 21- Bank of England asset purchases helped boost inflation after the financial crisis but its forward guidance has had no significant effect, research co-authored by Monetary Policy Committee member Martin Weale concluded on Thursday. The central bank faces a decision in two weeks on what form of stimulus, if any, it should adopt to cushion... » Read More
The U.S. dollar pulled back from a two-month high against the euro after the European Central Bank left interest rates unchanged and its president's comments focused more on inflation than some had expected.
U.S. Treasury Secretary Henry Paulson said on Thursday tax rebates now being issued to Americans will immediately help consumers and bolster the economy by summer.
European shares ended slightly lower on Thursday, weighed by financials after the region's top two central banks kept rates on hold as expected and investors saw little to suggest euro zone borrowing costs would fall soon.
Australia employment growth blew past expectations in April, pointing to a still-healthy labor market even as other parts of the economy buckle before higher interest rates and rising living costs.
South Korea's central bank held interest rates steady for the ninth consecutive month on Thursday, saying Asia's fourth-largest economy was faced with conflicting risks from inflation and economic slowdown.
The dollar gained broadly on Wednesday, supported by hawkish comments from a Federal Reserve official that helped cement views that the U.S. central bank's cycle of aggressive interest rate cuts may be nearing an end.
The first batch of U.S. taxpayers has already started to receive their federal tax rebates as part of the economic stimulus package, but very few consumers interviewed by Reuters in the past week said they plan to spend them on anything other than necessities.
The U.S. credit crisis is easing and the risk in housing is dramatically lower now, but economic growth will remain under pressure , the CEO of Merrill Lynch said.
The European Central Bank is widely expected to keep interest rates on hold at 4 percent on Thursday, but the opposing pressures of rising inflation and slowing growth could mean the central bank has to act before the year is out.
UK interest rates are expected to remain on hold at 5 percent when the Bank of England’s Monetary Policy Committee announces its decision Thursday, as fear of inflation prevents aggressive cuts that could boost Britain’s weakening economy, analysts told CNBC.com.
This is a timeline of the European Central Bank's rate decisions from 2007 to date.
The Federal Reserve must be ready to raise benchmark interest rates in a timely manner given the "troublesome" inflation outlook, Kansas City Fed President Thomas Hoenig said Tuesday.
U.S. Treasury Secretary Henry Paulson said U.S. financial markets are emerging from the credit crunch that many economists believe has pushed the country to the brink of recession, according to The Wall Street Journal.
Martin Feldstein, head of the National Bureau of Economic Research, told CNBC: "the odds are we will slide into a recession."
The dollar extended declines against the euro and a basket of six major currencies for a second day Tuesday after earnings results from Fannie Mae came in weaker than expected.
Chief executives from around Europe discussed their companies' earnings, opportunities and the challenges they face in 2008 with CNBC Europe Tuesday.
Australia's trade deficit narrowed by more than expected in March as mineral exports rebounded from supply disruptions, while a coming price bonanza could mean a long-awaited return to surpluses is not far away.
Federal Reserve Chairman Ben Bernanke on Monday said conditions in mortgage markets remain strained, posing a threat to the economy, and urged steps be taken to prevent home foreclosure where possible
The U.S. dollar slipped Monday against the euro but edged up against the British pound ahead of European Central Bank and Bank of England meetings later this week.
Soaring food prices may throw millions of Asians back into poverty, undo a decade of gainsand stoke civil unrest, regional leaders said as they urged a boost to agricultural production to meet rising demand