Economic News

Following surprisingly rapid economic expansion in the third quarter, China’s statistics bureau warned that overly-fast growth in lending and money supply could lead to high inflation and other economic problems. // China’s economy grew 10.2 per cent year-on-year in the first three months of 2006 to Rmb4,331bn, the National Bureau of Statistics officially announced on Thursday. President Hu Jintao had on Sunday revealed the gross domestic product figure prior to his much-watched trip to the US. ...

Sam Fleming, Daily Mail20 April 2006 THE UK housing market is worringly overvalued following one of the world's biggest property booms, the International Monetary Fund warned yesterday. OTHER STORIES Tax raid on second homes The paperclip house swap New on the market House market regains optimism Do I have to go buy-to-let? USEFUL LINKS GUIDES: Homes, loans and more BOAR ...

Iceland successfully auctioned government bonds for the first time in three months on Wednesday, but had to accept a higher yield than in previous sales, reflecting concerns about the country’s overheating economy. // The government debt agency sold IKr1.5bn (€15.4m) of four-year bonds at an average yield of 9.8 per cent. It accepted bids in its monthly auction for the first time since January 18, when the 2010 bonds were sold to yield 8.1 per cent. Wednesday’s auction attracted demand worth  ...

WASHINGTON (Dow Jones) - Interest-rate hikes are "close to being through," if data in coming weeks confirm the central bank's forecast of moderating growth and contained inflation, said Janet Yellen, the president of the Federal Reserve Bank of San Francisco Wednesday. "My forecast is slowing growth, inflation that will remain contained, although there is some possibility of some [energy-relate ...

By Krishna Guha and Scheherazade DaneshkhuPublished: April 19 2006 13:58 | Last updated: April 19 2006 13:58 The International Monetary Fund on Wednesday stepped up the pressure for far-reaching shifts in exchange rates, declaring that the dollar will have to depreciate “significantly” over the medium term if global economic imbalances are to be resolved in an orderly fashion. In its clearest sta ...

Share prices leapt on Wall Street on Tuesday after the Federal Reserve published minutes suggesting it was close to calling an end to the interest rate-tightening cycle. // The Dow Jones Industrial Average had its strongest day for two years, rising 195 points, or 1.76 per cent, to close at 11,269.17. The Nasdaq Composite had its strongest percentage gain since June 2004. The yield on the benchm ...

By Christopher Swann in WashingtonPublished: April 19 2006 14:18 | Last updated: April 19 2006 17:04US inflation accelerated in March, injecting fresh uncertainty into expectations for future interest rate moves by the Federal Reserve. // The consumer price index rose by 0.4 per cent last month while the core index climbed by 0.3 per cent. The core measure, which is more closely tracked than the main reading, excludes volatile energy and food prices. Analysts had been expecting a rise of just  ...

The world economy is expected to accelerate in 2006, despite setbacks caused by recent natural disasters and fears over the surging price of oil. In its latest analysis of global growth, the International Monetary Fund forecast that the world economy would expand by 4.9% this year. The prediction marks an upward revision of a previous IMF estimate for global growth in the region of 4.3%. However, the IMF warned that higher oil prices remained a risk to growth. The Washington-based lender's c ...

By Simon Webb LONDON (Reuters) - Oil held above $72 a barrel on Wednesday on fears Iran's intensifying dispute with the West may lead to a supply cut from the world's fourth largest exporter. London's Brent crude (LCOc1: Quote, Profile, Research) fell 2 cents to $72.49 a barrel at 1403 GMT. Earlier, Brent reached $72.64, equalling the record hit on Tuesday. Brent has hit fresh records in each of the last six sessions as the loss of a quarter of Nigerian oil supply has tightened European mark ...

WASHINGTON (Dow Jones) -- U.S. core consumer prices increased at the fastest pace in a year, the Labor Department said Wednesday. The core consumer price index -- the measure of retail-level inflation that excludes food and energy prices -- increased 0.3% last month, matching the March 2005 gain. Overall, consumer price inflation in the nation's economy also picked up during March, rising 0. ...