Indonesia Raises Interest Rate as India Aids Rupee

Bank Indonesia raised its benchmark interest rate by half a percentage point in an unscheduled move, joining India in implementing measures to shore up slumping currencies.

We Are All Europeans Now

Alexander Mirtchev, Contributor

0 comments, 0 called-out

+ Comment now

The broadening cracks in the European economic framework now appear to be undermining the whole European structure, as if a ‘contagion’ is spreading from the Southern European economies outwards.

Bank of Japan's Yoshihisa Morimoto warns emerging markets may see more outflows

MORIOKA, JAPAN: The global economy could be hurt if the withdrawal of funds from emerging markets picks up ahead of an expected reduction in the U.S. Federal Reserve's monetary stimulus, a Bank of Japan board member said on Thursday.

Will Financial Regulation Trash Global Economic Security?

Alexander Mirtchev, Contributor

Under the auspices of the Financial Stability Board, more than 30 recommendations have been set out as part of a massive and far-reaching G-20 financial regulatory reform package to ostensibly minimize risk in the financial system and maximize consumer protection.

Sweden Government To Propose New Measures To Enhance Financial Stability

STOCKHOLM--Sweden's government said Monday that it intends to propose a series of new measures to enhance financial stability, with responsibility for the new tools handed to Finansinspektionen, the Financial Services Authority.

Lagarde Calls for More Global Coordination as QE Exits

International Monetary Fund Managing Director Christine Lagarde urged policy makers to work more closely together as they plan eventual exits from unconventional monetary policies, endorsing swap arrangements between central banks as an instrument to weather instability.

Fitch downgrades Poland's rating outlook on budget revision

WARSAW: Fitch Ratings downgraded its credit outlook for Poland to stable from positive on Friday for the first time in years, citing the government's decision to soften its fiscal discipline and let the budget deficit widen this year.

Canada Inflation Advances 1.3% in July on Gasoline

Canadian consumer prices advanced 1.3 percent in July from a year earlier on gains in gasoline and shelter, remaining below the central bank’s target for a 15th month.

IMF's Lagarde urges caution over withdrawing stimulus

The head of the International Monetary Fund has warned central banks not to end their stimulus measures too soon.

UK government borrowing rises unexpectedly in July

The Treasury ran up a rare July deficit on the public finances last month, raising doubts about the coalition's progress in tackling the black hole in Britain's public finances.

Banks are falling short in planning for the worst: Federal Reserve

Most large banks appear to have been sailing through the annual "health checkups" they have had to undergo since the financial crisis.

China to create agency to align financial supervision

BEIJING (Reuters) - China is set to create an agency led by the central bank to coordinate financial supervision, without changing the roles of existing industry watchdogs, the cabinet said on Tuesday.

French government predicts rosy future in 2025

PARIS: Full employment, plenty of cheap housing, a new Industrial Revolution and Police 3.0. Those are the French government's predictions for the year 2025.

The Other Big Brake on Euro-Zone Growth: Private-Sector Debt

BRUSSELS—The euro-zone economy is showing signs of sputtering to life, but doubts abound about whether growth can pick up.

U.S. consumer confidence dips; housing starts miss forecasts

(Reuters) - U.S. consumer sentiment ebbed in August and residential construction rose less than expected last month, potentially dimming hopes of an acceleration in economic activity in the third quarter.

The Dutch, Europe's apostles of austerity, feel the economic pain

(Reuters) - The Netherlands, outspoken advocate of fiscal pain as a cure for euro zone ills, found itself in unwelcome company this week as the bloc's economic recovery left it among a handful of laggards still in recession.

Global economic outlook dims while US recovery continues, ICC-Ifo survey reveals

Paris – The world economy has weakened slightly this quarter, mainly due to declining optimism in Asia and Latin America, while North America shows signs of continuing recovery, according to a World Economic Survey published today by the International Chamber of Commerce (ICC) and the Munich-based economic research institute Ifo.

Bank of England divided on forward guidance, outlook for asset purchases

LONDON: Bank of England policymakers proved to be unexpectedly split on new governor Mark Carney's long-run commitment to keep interest rates low earlier this month, minutes of their August meeting showed on Wednesday.

ECB to have more room for rate hike as crisis ebbs: ZEW economist

MANNHEIM: Growing optimism that the euro zone crisis is over the worst will give the European Central Bank more room for an earlier rise in interest rates, an economist at Germany's ZEW economic research institute said on Tuesday.

No need to hurry with sales tax hikes: Japan PM adviser Koichi Hamada

TOKYO: Japan's government has no need to hurry to raise the sales tax and could consider delaying its scheduled increase by one year, an adviser to Prime Minister Shinzo Abe said after data showed the economy expanded less than expected in the second quarter.

Resurgent business activity in England and Wales recorded for July

Two surveys have reinforced prospects for an upturn in Britain's faltering economy, with resurgent business activity and confidence recorded in July.

Germany grew by 0.75 per cent in Q2: Deputy minister

BERLIN: The German economy expanded by 0.75 percent in the second quarter, its strongest rate in more than two years, but growth will slow in the second half of the year, German Deputy Economy Minister Bernhard Heitzer told Reuters on Friday.

Mark Carney: banks need to reconnect with society

Bank of England governor Mark Carney warned Britain's high street banks that they risk becoming socially useless unless they focus on the real economy and help businesses invest and create jobs.

Government panel reviews potential risks to financial system: RBI

MUMBAI (Reuters) - A government-appointed panel on financial stability, including incoming Reserve Bank of India (RBI) chief Raghuram Rajan, assessed risks to the financial system at a meeting on Wednesday, the central bank said, without elaborating on any possible measures.

British retailers enjoy best July since 2006: BRC

LONDON: British retailers enjoyed their best July in six years as a summer heat wave, sporting triumphs and the arrival of a royal baby gave consumers an excuse to splash out, industry data showed on Tuesday.

Bank of Scotland's fined for repeated fax blunder

LONDON: Bank of Scotland has been fined 75,000 pounds after repeatedly faxing customers' account details and payslips to wrong recipients for three years.

Consumer confidence in economy leaps after growth improves

Research from YouGov found that 32pc of people surveyed in July believed they will be satisfied with the economy in a year’s time. This is against 21pc in June.

New jobs disproportionately low-pay or part-time

WASHINGTON (AP) -- The 162,000 jobs the economy added in July were a disappointment. The quality of the jobs was even worse. A disproportionate number of the added jobs were part-time or low-paying — or both.

Japan Stocks Rise as Yen Drops, U.S. Manufacturing Climbs

Japanese stocks rose, with the Topix index posting its biggest advance in five weeks, as the yen touched its lowest against the dollar in a week and U.S. factory activity surged.

US hiring slows in July but jobless rate falls to 4-yr low

WASHINGTON: US employers slowed their pace of hiring in July but the jobless rate fell anyway, mixed signals that could make the U.S. Federal Reserve more cautious about drawing down its huge economic stimulus program.

Stocks drop back on mixed US jobs figures

LONDON (AP) — A mixed U.S. jobs report took the edge off global stock markets Friday as it raised questions over the pace of growth in the world's largest economy and when the U.S. Federal Reserve will start reducing its monetary stimulus.

First bailout assessment positive: Cyprus FM Haris Georgiades

NICOSIA: Cyprus' finance minister says that a first assessment by the country's international creditors on whether it is adhering to the terms of its financial rescue is positive.