Economic News

LONDON, Sept 29 (Reuters) - European government bonds surged on Monday, pushing the two-year yield to a five-month low, as a string of European bank bailouts and the imminent passage of a U.S. banking sector rescue plan underlined the difficulties facing the sector and boosted demand for safe-haven bonds. Bund futures racked up their biggest one-day gain since 1996, capitalising on losses of near ...

PRAGUE, Sept 29 (Reuters) - Czech inflation remained high in September but a weakening economy and falling food and fuel prices will begin to squeeze prices toward the end of the year, a Reuters poll showed on Monday. The consensus forecast of the 12 analysts surveyed was for a a 0.3 percent monthly drop in the consumer price index (CPI) <CZCPI=ECI>, with the annual inflation rate st ...

Joe Murphy, Evening Standard29 September 2008 George Osbourne today delighted the Tories by promising to freeze council tax bills for millions of taxpayers. Calling a halt: Osborne promised a freeze on council tax WANT TO KNOW MORE? Slash business taxes, says Osborne Can I challenge my council tax band? OTHER STORIES £200 council tax rebates to ease crunch Households face 4% rise in council tax bills Council tax bills to rise 4% Council 'stealth charges' top &p ...

STOCKHOLM, Sept 29 (Reuters) - Sweden's central government debt is likely to fall sharply in coming years, the Swedish National Debt Office said on Monday, recommending it gradually pare back its targets for the duration of the debt it issues. The agency, which to date has set the targets itself but now recommends that government do so, proposed cutting the average maturity of its straight domest ...

WASHINGTON (Thomson Financial) - US consumer spending was flat in August despite a larger-than-expected increase in personal income, while inflation rose at its fastest annual pace in more than 13 years, the Commerce Department said today. Personal consumption expenditures were unchanged in August after rising a downwardly revised 0.1% in the prior month. August's unchanged level of spending was  ...

NEW YORK WASHINGTON, Sept 29 (Reuters) - Hard-pressed U.S. consumers kept their spending completely in check during August despite an unexpected bounce upward in incomes, according to a government report on Monday that implied worry about the economy's direction was deepening. The Commerce Department said consumer spending was flat in August after barely edging up by a revised 0.1 percent i ...

BUDAPEST, Sept 29 (Reuters) - Hungary's central bank left interest rates unchanged at 8.5 percent on Monday for the fourth successive month, and analysts said the bank will probably stay cautious due to the global financial crisis. The rate decision was in line with market expectations in a Reuters poll, and follows a round of similar decisions in the Czech Republic, Poland and Romania.  ...

NEW YORK WASHINGTON, Sept 29 (Reuters) - Hard-pressed U.S. consumers curbed their spending during August despite an unexpected jump in incomes, according to a government report on Monday that implied worry about the economy's direction was deepening. The Commerce Department said consumer spending was flat in August after barely edging up by a revised 0.1 percent in July, a much weaker outc ...

WASHINGTON, Sept 29 (Reuters) - Hard-pressed U.S. consumers curbed their spending during August despite an unexpected jump in incomes, according to a government report on Monday that implied worry about the economy's direction was deepening. The Commerce Department said consumer spending was flat in August after barely edging up by a revised 0.1 percent in July, a much weaker outcome than  ...

ZURICH, Sept 29 (Reuters) - The Swiss economy is likely to follow other European countries into a brief recession and the Swiss National Bank will try to revive growth by cutting interest rates twice, the KOF research institute said on Monday. Swiss gross domestic product will grow by only 0.3 percent next year, after growth of 1.9 percent this year, the KOF Swiss Economic Institute said.  ...