Economic News

UPDATE 1-Romania cbank cautious on any monetary easing
13 Oct 2008 source: iii.co.uk

BUCHAREST, Oct 13 (Reuters) - The Romanian central bank signalled on Monday it will be cautious on easing monetary policy in the wake of a potential economic growth slowdown. Governor Mugur Isarescu said Romania's monetary policy was "relatively relaxed" even though the country's interest rates at 10.25 percent are the highest in the European Union. A clear sign that econ ...

EURO GOVT-Bunds sag as shares rally on govt bank moves
13 Oct 2008 source: iii.co.uk

LONDON, Oct 13 (Reuters) - Euro zone government bond prices sagged on Monday and interbank rates eased as European governments took bold steps to rescue the banking system, helping regional shares rally and reversing some of the recent flight to quality flow. Britain, Germany, France, Italy and other European governments announced rescue plans totalling hundreds of billions of dollars that are de ...

Stg rallies from lows vs dlr on bank rescues
13 Oct 2008 source: iii.co.uk

LONDON, Oct 13 (Reuters) - Sterling extended early gains against the dollar on Monday, boosted after Britain's Treasury stepped up efforts to revive its ailing financial sector by injecting capital into the country's biggest banks. In a bid to stem a deepening financial crisis, the UK Treasury on Monday said three major British banks could take 37 billion pounds ($64 billion) in government ...

Serbia seeks new IMF deal, government officials say
13 Oct 2008 source: iii.co.uk

BELGRADE, Oct 13 (Reuters) - Serbia has decided to ask the International Monetary Fund for a new deal, but an agreement is unlikely to be announced before the IMF visits Belgrade next month, senior government officials said on Monday. "We are certainly not in a group of emergency cases, such as Hungary," a senior official who asked not to be named told Reuters. "But we need  ...

Job done?
13 Oct 2008 source: bbc.co.uk

The UK and other governments are taking large, at times controlling, stakes in troubled banks, and they are to guarantee loans between banks to revive confidence in the banking sector and kick-start the stalled mortgage and corporate lending markets. So have the concerted action by the UK and European governments delivered the silver bullet? The initial market reaction - UK and European stock markets rose during early trading on Monday and oil prices gained on hopes of an economic revival - su ...

TOPWRAP 6-Govts bail out banks, UK seeks new Bretton Woods
13 Oct 2008 source: iii.co.uk

LONDON (Thomson Financial) - * Britain calls for new Bretton Woods conference UK TO SPEND 37 BILLION POUNDS BUYING INTO UK BANKS FRANCE, GERMANY, OTHERS TO MAKE SIMILAR MOVES JAPAN TO CONSIDER ALL-DEPOSIT GUARANTEE MARKETS REACT POSITIVELY, STOCKS RISE SHARPLY LONDON, Oct 13 (Reuters) - Governments across the world moved on Monday to shore up confidence in tottering global banks wi ...

Cintra's Sept traffic hit by downturn
13 Oct 2008 source: iii.co.uk

MADRID, Oct 13 (Reuters) - Traffic fell in September on all but one road run by Spanish toll road operator Cintra as a slowdown in the economy at home and in the United States hit the figures, data on the firm's website showed on Monday. The road Cintra operates in Canada, the 407 ETR, was the only one which recorded a rise, with the number of vehicles increasing 1.26 percent on a year ear ...

UPDATE 1-UK factory gate inflation falls for 2nd straight month ...
13 Oct 2008 source: iii.co.uk

LONDON, Oct 13 (Reuters) - British factory gate inflation fell for a second consecutive month in September, official data showed on Monday, suggesting price pressures at the start of the inflation pipeline are beginning to ease. The Office for National Statistics said unadjusted output prices fell 0.3 percent in September, taking the annual rate of increase down to 8.5 percent from 9.1 ...

Market will be stronger for future, vows Brown
13 Oct 2008 source: thisismoney.co.uk

Joe Murphy and Martin Bentham, Evening Standard13 October 2008, 8:55am The Prime Minister today moved to reassure the City that its success would remain a priority for the Government. WANT TO KNOW MORE? Grim warning over City jobs Lehman and UBS pile on jobs pain OTHER STORIES Banks get £40bn as bosses give up bonuses RBS' Sir Fred Goodwin falls on his sword Market report: Mo ...

GLOBAL MARKETS-Stocks, oil jump after bank rescue plans
13 Oct 2008 source: iii.co.uk

LONDON, Oct 13 (Reuters) - World stocks jumped on Monday from last week's four-year low after policymakers around the world took new and drastic steps to rescue banks and prevent the global economy from sinking into recession. Oil jumped nearly 5 percent from its 13-month low while government bonds tumbled after Britain injected 37 billion pounds ($63.95 billion) buying into leading UK ban ...

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