Economic News

Japan's central bank has kept interest rates unchanged for a second consecutive month. Members of the central bank opted unanimously to maintain the benchmark rate at 0.25%, as expected. When rates were raised in July, after six years of zero interest rates, the move was seen as a sign of confidence in the strength of the economy. However, recent consumer price figures have indicated that inflation may have been less than previously thought. 'Downward trend' Consumer price figures for Augu ...

WASHINGTON (Dow Jones) -- Low and stable inflation expectations provided some comfort that a pause in August was not too risky despite recent higher inflation, said Sandra Pianalto, the president of the Cleveland Fed bank on Friday. Anchoring inflation expectations is vital because if people begin to expect that higher prices are a fact of life, they will alter their investment patterns. "Al ...

Treasury prices closed higher Friday, pressing yields lower, after Cleveland Federal Reserve President Sandra Pianalto gave a measured speech that did not rock the market or alter rates expectations. Pianalto told an audience that elevated inflation numbers remain a concern, though the economy is slowing. She stressed that data remains the key to Fed policy. The benchmark 10-year Treasury no ...

NEW YORK (AFX) - September has traditionally been known as one of Wall Street's weakest months, a time when many investors begin selling to better position themselves for the year's end. Throw in continued uncertainty about the economy's direction, consumer spending, and a Federal Reserve meeting on Sept. 20, and that puts the markets under even more pressure. But these factors have also thrown o ...

The dollar rose to six-week highs against the euro, sterling and the Swiss franc Friday, on speculation that the slowdown in the U.S. economy may not be as severe as originally feared and as traders continued to adjust positions ahead of the upcoming meeting of the Group of Seven leading industrial nations. "Position adjustment rather than new risk taking appears to be the overall theme in the  ...

Treasury prices remained higher Friday afternoon, keeping yields lower, after the Cleveland Federal Reserve President Sandra Pianalto gave a measured speech that did not rock the market. Pianalto told an audience that elevated inflation numbers remain a concern, though the economy is slowing, and stressed that data remains the key to Fed policy. The benchmark 10-year Treasury note rose 7/32  ...

LONDON (AFX) - The dollar stayed well bid, benefiting from some scaling back in expectations that currencies will top the agenda at the G7 and IMF meetings next weekend and after mildly hawkish comments from a US rate setter. The IMF and G7 meetings scheduled for the weekend of Sept 15 in Singapore have been in focus ever since German deputy finance minister, Thomas Mirow, indicated that the yen' ...

Fri 8th Sep 2006 Lloyd's has predicted there will be another rate rise after the Bank of England’s monetary policy committee confirmed the interest rate would stay frozen at 4.75 per cent. Chief economist at Lloyd’s TSB, Trevor Williams, said the move was expected, but warned there could be more difficult times ahead for borrowers. "It’s no surprise that the MPC chose to ...

The dollar rose against major currencies early Friday, touching a six-week high versus the euro, after Bank of Japan chief said the central bank will continue to raise rates gradually and as traders adjusted positions ahead of the upcoming meeting of the Group of Seven leading industrial nations. "Position adjustment rather than new risk taking appears to be the overall theme in the foreign exc ...

LONDON (AFX) - The TUC said the adult minimum wage should be more than 6 stg an hour by October 2008. In its submission to the Low Pay Commission (LPC) the TUC said "unjustified" employer calls for a freeze in the rate should be ignored. The umbrella union body states that more money needs to be put into enforcement so that there is "no hiding place for employers illegally paying  ...