MUMBAI, Oct 9- Two years ago India was a "fragile five" emerging economy growing at five percent, grappling with a severe current account deficit, near double-digit inflation, and the rupee at record lows as the U.S. Today, two years into the term of Reserve Bank of India Governor Raghuram Rajan, the rupee has shrugged off its taper tantrum, inflation is tamed, and India...» Read More
The dollar slipped against most currencies Tuesday, resuming a long-term decline after a brief respite on Monday as investors expected further signs of housing weakness and sluggish consumer spending that could hurt U.S. growth.
Optimism about the U.S. economy among small businesses soured last month as a Federal Reserve interest cut intended to aid the economy instead triggered cutbacks in spending and hiring, a survey released on Tuesday showed.
Japan's economy grew faster than expected in the third quarter, but the Bank of Japan kept interest rates on hold in the face of market turmoil that has sent both stocks and the dollar sliding.
German investor morale worsened in November to its weakest since February 1993, weighed down by worries about financial market turmoil and the impact of the strong euro, a closely watched survey showed on Tuesday.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the central bank will raise interest rates again before long to keep a lid on price pressures. Consumer price inflation quickened to 6.5 percent in October, matching the near 11-year peak scaled in August, from 6.2 percent in September.
The dollar rose against the euro on Monday, as the European currency backed off all-time highs set last week.
Soaring food and petrol prices pushed British factory gate inflation to its highest level in nearly 12 years in October, denting expectations that interest rates are about to fall.
China on Monday posted a record trade surplus for October, but the total was smaller than expected, as climbing raw material costs and strengthening domestic demand gave a boost to imports.
Japanese wholesale prices rose slightly more than expected in October from a year earlier on rising oil prices, but investors, preoccupied with global markets, stuck to the view that the Bank of Japan will wait until next year to lift rates.
Australia's central bank on Monday raised its forecasts for underlying inflation to above its 2 to 3 percent comfort zone, strongly suggesting that further increases in interest rates might be needed to restrain price pressures and cool the red-hot economy
Soaring global oil costs helped drive U.S. import prices up at the steepest rate in nearly 1-1/2 years during October, according to a Labor Department report on Friday that was likely to heighten concern about energy-driven inflation.
The dollar fell to one-and-a-half-year lows versus the yen Friday, as fears of wider credit-related losses at U.S. financial institutions had investors dumping risky assets and anticipating more Federal Reserve rate cuts.
Euro zone economic growth will be slightly better than expected this year thanks to a robust third quarter, but financial market turbulence will slow it next year and in 2009, the European Commission said on Friday.
Shares of US Airways Group led major U.S. airline stocks lower on Thursday, as the sector matched a steep decline in the broader market.
Ben Bernanke’s latest assessment of the economy shows the Fed’s job of balancing inflation with a slowing economy is more difficult than ever, leaving policymakers undecided on further rate cuts.
The prepared speech given by Federal Reserve Chairman Ben Bernanke on the economic outlook before the Joint Economic Committee on November 8, 2007.
Fed Chairman Ben Bernanke said the U.S. economy faces risks in both growth and inflation, suggesting the Fed will holding off deciding on further rate cuts.
South Korea's central bank held its main interest rate steady at 5.0 percent for the third month in a row on Thursday, as widely expected, amid turbulent global markets and despite growing inflationary pressures.
Unemployment in Australia unexpectedly ticked up from 33-year lows in October but the number of full-time jobs increased by the biggest amount in 16 years, underlining the continued strength of the economy.
Japanese machinery orders rose in the July-September period and are forecast to keep going this quarter, supporting the growth outlook for the economy, but financial market turmoil looks set to keep a lid on interest rates for the next few months.