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
A private measure of Australian inflation hit new highs in April as households paid more for health, fuel and rent, keeping upward pressure on interest rates just a day before a central bank policy meeting.
President Bush sought to assure Americans Saturday that federal checks en route to them as part of a stimulus plan will help spur the ailing economy and pay for soaring gas and food prices.
The dollar climbed to two-month peaks against the yen and a basket of currencies on Friday after a government report showed the U.S. economy shed just 20,000 jobs in April, fewer than economists had expected.
Fresh off its strongest month in nearly a year, the dollar looks set to extend its rally next week on signs the Fed is on hold after seven months of aggressive interest rate cuts.
Bankruptcy filings by U.S. consumers jumped 47.7 percent in April from one year ago as families cope with fallout from the subprime mortgage crisis, the American Bankruptcy Institute said.
Fewer U.S. jobs were lost in April than economists feared and the unemployment rate improved, raising hopes an economic downturn was not gathering steam.
New orders at U.S. factories jumped a much stronger than expected 1.4 percent in March, and durable goods orders for the month rose a revised 0.1 percent, a government report showed.