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
Deepening concern over the state of the U.S. economy and its impact on Europe will lead to further uncertainty in European stock markets next week, as investors look to interest-rate decisions from major central banks for reassurance.
For those graduating college this year, getting a job will be a little harder than last year—but will likely pay more.
The dollar fell against the euro and yen Friday in volatile trading as investors digested the U.S. March jobs report and focused on the rise in the unemployment rate.
If recessions are best seen through the rear-view mirror, then Friday's jobs data makes the current state of the economy pretty clear.
US employers cut payrolls by a bigger-than-expected 80,000 in March, more evidence that the economy is in a recession.
The Federal Reserve has been wise to keep the dollar weak as the economy navigates its way through the current liquidity shortage, the former chairman of the central bank's Dallas branch said.
For the second time this week, a senior Federal Reserve official conceded the United States economy could slip into recession, but suggested the central bank should wait to see if more rate cuts are needed.
Australia's top central banker said on Friday there were signs that domestic demand was cooling in a way that would help restrain inflation, suggesting he thought interest rates had risen enough for now.
Japan's government may nominate acting central bank governor Masaaki Shirakawa as permanent head of the bank, hoping that a candidate already approved by parliament will not be vetoed by opposition lawmakers, the Nikkei newspaper said on Friday.
The U.S. economy has taken a sharp turn for the worse and is facing a tough quarter, U.S. Treasury Secretary Henry Paulson said on Thursday.
The dollar gained against the euro Thursday after news the U.S. service sector shrank less than expected in March.
An index of chief executives' confidence in the US economy plunged to a record low last month, reflecting deeper concerns about the credit crisis and prospects for hiring.
Now that Wall Street has gone through its version of “Survivor”, it’s time for a reality check. The credit crunch is probably far from over and is likely to play out like a mini-series than a reality TV show.
The dollar rose against the yen Wednesday, following U.S. stocks higher, as investors bet that the worst of the credit crisis may be over and grew more tolerant of risk.
US private-sector employers unexpectedly added 8,000 jobs in March, a report by a private employment service said, confounding economists' expectations of a fall.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony before the Joint Economic Committee of Congress on April 2, 2008:
The $19 billlion writedown at UBS has cheered some investors who think that the worst of the credit crunch is now over. But the European Central Bank still faces the prospect of falling growth and rising prices.
The dollar vaulted higher Tuesday after major banks UBS and Lehman Brothers raised a combined $19 billion to shore up their balance sheets, boosting hopes that the worst of Wall Street's problems may be over.
Key regions of the United States remained mired in recessionary conditions this month, data Monday showed, as the slowdown in the world's largest economy wore on and inflation continued to hurt businesses.
Euro zone manufacturing activity cooled in March, but there was the biggest growth split among leading economies in seven years, while price pressures spiralled higher, a survey showed on Tuesday.