Economic News

LONDON (Dow Jones) -- The European Central Bank on Thursday held its key interest rate at 2.5%, while markets look for hints on whether the central bank will lift its base rate next month -- and, if so, by how much. The Frankfurt-based central bank, which sets rates for countries using the euro as their currency, kept rates at 2.5% after quarter-point hikes in December and in March. Jean-Claud ...

Michael Clarke, This is Money4 May 2006 INTEREST rates were kept on hold today for the ninth month in a row, but the chances of a rate cut are quickly diminishing. ON HOLD: The Bank has kept rates pegged at 4.5%, but the next move could be up, rather than down, say analysts WANT TO KNOW MORE? DATA: Where the economy is heading DEAL FINDER: Great saving accounts DEAL FINDER: Fixed and variable Mortgages OTHER STORIES Spring house prices up £4,000 Market report: T ...

The UK service sector expanded faster last month than at any time in the past two years, a survey has revealed. Companies also raised their prices at the fastest rate for a similar period, the study found. Consumer spending on hotels, restaurants and personal services all showed "notable improvement" in April according to the research. The results will have been closely examined by the Bank of England in making interest rate decisions. The finding are another indicator of revival of the UK e ...

The Yorkshire Bank study also found that many first-time buyers are finding it a little easier to reach the first rung of the property ladder.However, Tom Vosa, Yorkshire Bank's chief economist, said he was concerned that the private sector did not seem to be accelerating to compensate for a slowdown in public sector investment.The bank's quarterly Yorkshire Economic Update found that the region's ...

Simon Lambert, This is Money4 May 2006 THE cost of the average home leapt up by almost £4,000 in April as Britain was gripped by a spring house price boom. SPRING BLOOM: House prices shot ahead in April as buyers outnumbered sellers WANT TO KNOW MORE? REPORT: Lack of homes boosts prices DEAL FINDER: Best mortgage rates GUIDES: Homebuying tips OTHER STORIES Trap for first-time buyers Home fibs of the postcode snobs New on the market FSA to protect elderly  ...

By Ross Finley LONDON (Reuters) - Official interest rates look almost certain to remain on hold for a ninth successive month on Thursday but a growing minority of analysts is predicting the next move in borrowing costs will be up, not down. Hopes for lower rates after last August's hotly-debated quarter point cut have evaporated in financial markets and most economists now expect the Bank of Eng ...

The dollar eased against the euro, but rose against the yen Wednesday, amid worry the interest-rate differential between the U.S. and the euro-zone will narrow soon. The dollar had briefly rallied in the wake of stronger-than-expected readings on the nonmanufacturing sector of the U.S. economy and factory orders. The European Central Bank meets Thursday on interest rates, with expectations in t ...

The dollar was little changed against major rivals Wednesday, with investors eagerly awaiting Federal Reserve Chairman Ben Bernanke's speech later in the session for any hints about the Fed's leanings on future interest-rate increases. The dollar had briefly rallied in the wake of stronger-than-expected readings on the nonmanufacturing sector of the U.S. economy and factory orders, before slipp ...

WASHINGTON (Dow Jones) -- Nonmanufacturing sectors of the U.S. economy expanded at a much faster pace in April, the Institute for Supply Management reported Wednesday. The ISM services index jumped to 63.0% from 60.5% in March. It is the highest level since last August. The increase was unexpected. Economists were looking for the index to fall to 59.6%. Readings over 50% in the ISM index  ...

Treasuries fell and longer-dated yields attained new multi-year highs on Wednesday after robust data supported talk of further interest rate rises. // An unexpected surge in a widely watched index of service sector activity helped push 10-year yields to a four-year high of 5.169 per cent and 30-year yields to 5.261 per cent, nearly a two-year high point. “This report will therefore ensure another 25bp move from the Fed next week and cast further doubt on whether the Fed will actually pause in  ...