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Winds of globalization could turn sour - BOE's Bean
26 Aug 2006 source: today.reuters.co.uk

By Tim Ahmann and Ros Krasny JACKSON HOLE, Wyoming (Reuters) - Rapid global economic integration has helped keep prices in check in recent years but that disinflationary cycle may be over, Bank of England chief economist Charles Bean said on Saturday. Globalization has provided a favorable tail wind to central banks' attempts to hold inflation down, he said, while issuing a "change in weather" alert. "Winds can be changeable and ... the process may go into reverse at some point. I think to an ...


Bean says globalization salad days are over
26 Aug 2006 source: today.reuters.co.uk

JACKSON HOLE, Wyoming (Reuters) - Rapid global economic integration may have put downward pressure on prices in the recent past, but that disinflationary cycle may be over, Bank of England chief economist Charles Bean said on Saturday. "Of course winds can be changeable and ... the process may go into reverse at some point. I think to an extent that is already happening," Bean told a gathering of ...


No consensus on Fed's next move on rates
26 Aug 2006 source: iii.co.uk

JACKSON, Wyo. (AFX) - After two-plus years, is the pain from the long march of higher interest rates over for good? Borrowers finally got a reprieve this month when the Federal Reserve decided to halt a campaign that produced the longest stretch of rate increases in recent history. Where the Fed is headed next, at its next meeting Sept. 20 and later, generated chatter on the sidelines of econ ...


CURRENCIES: Dollar Hits 5-week Yen High On Soft Japan CPI Data; Flat Vs. Euro ...
25 Aug 2006 source: morningstar.com

The dollar surged to a five-week high versus the yen and traded little changed against the euro Friday after inflation data from Tokyo dampened the prospects of another rate hike this year in Japan. A recalculation of the Japanese consumer price index to include new goods in a consumer's core basket, such as flat-screen televisions and conveyor belt sushi -- a change that happens once every hal ...


Bernanke warns against protectionism
25 Aug 2006 source: iii.co.uk

JACKSON, Wyo. (AFX) - Federal Reserve Chairman Ben Bernanke cautioned lawmakers to avoid the temptation to impose protectionist trade policies as the United States grapples with fierce competition from globalization. Globalization has shrunk the world and made countries increasingly connected through economic ties. The opportunities for companies to sell their goods to more and more countries can ...


Dow closes down 20, Nasdaq finishes up 3|
25 Aug 2006 source: iii.co.uk

NEW YORK (AFX) - Wall Street ended a lackluster session little changed Friday after a speech by Federal Reserve Chairman Ben Bernanke failed to give investors any hints about interest rate policy despite their concerns that the economy might be slowing too fast. Further exasperating investors was a rally in oil and natural gas prices, which helped push blue chips lower and reinforced concerns ...


Fed chairman warns against protectionism
25 Aug 2006 source: iii.co.uk

JACKSON, Wyo. (AFX) - Federal Reserve Chairman Ben Bernanke cautioned lawmakers on Friday to avoid the temptation to impose protectionist trade policies as the United States grapples with fierce competition from a powerful wave of globalization. Globalization has shrunk the world and made countries increasingly connected through economic ties. The opportunities for companies to sell their goods t ...


Fed chief warns on protectionism
25 Aug 2006 source: bbc.co.uk

US Federal Reserve chief Ben Bernanke has warned of the threat posed to world economic growth by protectionism. Speaking at an economic conference, Mr Bernanke said "economic growth should not be taken for granted". Mr Bernanke said that protectionism - while the "natural reaction" to globalisation - was not desirable. The speech comes after recent figures on US housing and durable goods indicated that the world's largest economy could be slowing down. 'Geopolitical concerns' Policy-makers ...


CURRENCIES: Dollar Hits 5-week High Vs. Yen; Up Vs. Euro
25 Aug 2006 source: morningstar.com

The dollar surged to a five-week high versus the yen and traded modestly higher against the euro Friday after inflation data from Tokyo dampened the prospects of another rate hike this year in Japan. A recalculation of the Japanese consumer price index to include new goods in a consumer's core basket, such as flat-screen televisions and conveyor belt sushi -- a change that happens once every ha ...


THE FED: Benefits Of Globalization Must Be Widely Shared: Bernanke ...
25 Aug 2006 source: morningstar.com

JACKSON HOLE, Wyo. (Dow Jones) -- Economic policymakers have to make sure that enough segments of society feel the benefits of globalization in order to guard against protectionism, Federal Reserve Chairman Ben Bernanke said Friday. "The challenge for policymakers is to ensure that the benefits of global economic integration are sufficiently widely shared -- for example, by helping displaced wo ...


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