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US Federal Reserve statements on discount rate cut
19 Aug 2007 source: iii.co.uk

WASHINGTON (Thomson Financial) - The US Federal Reserve said Friday it had cut the overnight interest rate it charges to banks by 50 basis points to 5.75 percent, citing "increased uncertainty" in the financial markets. Here is the text of the two separate statements issued by the central bank: "To promote the restoration of orderly conditions in financial markets, the Federal Res ...


Lehman Bros sees Fed rate cuts in Sept, Oct; fed funds at 4.75 pct by year-end ...
17 Aug 2007 source: iii.co.uk

LONDON (Thomson Financial) - Broker Lehman Brothers said it now expects the Federal Reserve to cut its key fed funds rate at both its September and October meetings following the central bank's decision to trim its discount rate to ease liquidity issues sparked by the crisis in the US sub-prime mortgage market. Previously Lehman Bros said the Fed would likely remain on hold but it now expects the ...


Will Wall St troubles lead to recession?
17 Aug 2007 source: iii.co.uk

WASHINGTON (AP) - The stock market is on a stomach-churning ride, the nation's once high-flying housing market is sinking deeper into gloom, and credit, the lifeblood of the economy, is drying up. If consumers get nervous enough, many economists believe, all of these troubles could become the perfect storm that will plunge the country into a recession. And the odds seem to be increa ...


Hong Kong's revised 2007 GDP forecast `achievable' - Citigroup ...
17 Aug 2007 source: iii.co.uk

HONG KONG (Thomson Financial) - Hong Kong's higher gross domestic product (GDP) estimate for 2007 is attainable given the strength of consumer spending, investments and exports, Citigroup economist Joe Lo said Friday. The government earlier raised its 2007 growth forecast to 5-6 percent from a previous estimate of 4.5-5.5 percent. ``It's achievable,'' Lo said. ``The increased spending and invest ...


Hong Kong Q2 GDP up 6.9 pct yr-on-yr; 2007 GDP target raised to 5-6 pct -UPDATE ...
17 Aug 2007 source: iii.co.uk

HONG KONG (XFN-ASIA) - Gross domestic product (GDP) in the second quarter grew 6.9 pct year-on-year, up from a revised growth rate of 5.7 pct in the first quarter, the government said. For the first half of the year, the economy grew 6.3 pct year-on-year, underpinned by a broad-based upturn in the economy, government economist Kwok Kwok-chuen said. With a better-than-expected economic performanc ...


Hong Kong raises 2|007 GDP outlook as Q2| growth tops estimates - UPDATE 2| ...
17 Aug 2007 source: iii.co.uk

Hong Kong raises 2007 GDP outlook as Q2 growth tops estimates - UPDATE 2 HONG KONG (ThomsonFinancial) - The Hong Kong government raised its 2007 gross domestic product (GDP) forecast Friday after the second-quarter reading beat economist expectations, driven by exports and consumption. GDP rose 6.9 percent in the quarter from the year earlier, above the Thomson IFR forecast for a rise of 5.7 pe ...


DATAWATCH - Hong Kong Q2 GDP growth a 'surprise'; Q3 rise may slow - JP Morgan ...
17 Aug 2007 source: iii.co.uk

HONG KONG (XFN-ASIA) - Gross domestic product (GDP) growth in the second quarter came as a surprise as it exceeded market expectations, JPMorgan Chase Bank. economist for Greater China Wang Qian said. But the pace of growth in the third quarter is likely to moderate under the weight of the expected adverse impact of the ongoing turmoil in the equity and credit markets, she said. The government e ...


Latvia downgraded to 'BBB+' with stable outlook on overheating economy - Fitch ...
17 Aug 2007 source: iii.co.uk

MUMBAI (Thomson Financial) - Fitch Ratings said it has downgraded the Republic of Latvia's foreign currency issuer default rating (IDR) to 'BBB+' from 'A-', with a stable outlook, citing the country's overheating economy. It also cut the nation's local currency IDR to 'A-' from 'A'. Fitch said Latvia has the highest current account deficit in the EU, which, along with rapid private sector credit ...


Hong Kong's Q2 gross domestic product grows 6.9 pct on exports - UPDATE ...
17 Aug 2007 source: iii.co.uk

HONG KONG (Thomson Financial) - Hong Kong's gross domestic product (GDP) rose 6.9 percent in the second quarter from a year earlier, driven by exports and consumption, the government said. In the quarter, merchandise exports expanded 11.3 percent while domestic consumption increased 6.6 percent. Investment spending grew 11.1 percent. For the first half of the year, GDP expanded 6.3 percent. The ...


Hong Kong Q2 GDP growth 6.9 pct yr-on-yr; 2007 GDP target revised to 5-6 pct ...
17 Aug 2007 source: iii.co.uk

HONG KONG (XFN-ASIA) - The government said gross domestic product in the second quarter grew 6.9 pct year-on-year, up from a revised growth rate of 5.7 pct in the first quarter. For the first half of the year, the economy grew 6.3 pct year-on-year, underpinned by a broad-based upturn in the economy, a government spokesman said. With a better-than-expected economic performance in the first half a ...


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