Swiss Say ‘No’ to Measure Forcing SNB to Acquire More Gold

Swiss voters rejected a referendum requiring their central bank to hold a portion of its assets in gold, a measure its President Thomas Jordan termed an "invitation to speculators" that could have hamstrung the economy.

EU won't sanction France, Italy on budget yet

BRUSSELS (AP) — The European Union head office is opting not to sanction two of its biggest economies just yet for missing public finance targets and instead will give France and Italy until the spring to come up with better plans to cut their debts and deficits.

Dollar Gains for Fifth Month as U.S. Economy Diverges From World

The dollar advanced for a fifth consecutive month as the U.S. moves closer to its first interest-rate increase since 2006, while policy makers from Japan, the euro-area and China pledge further stimulus to support growth.

German unemployment rate falls to a record low

Germany's unemployment rate has hit a record low, but slower inflation has raised concerns over deflation.

Juncker reveals giant EU investment plan

European Commission President Jean-Claude Juncker has given details of a €315bn (£250bn; $393bn) investment plan to kick-start Europe's economy.

Private consumption spike helps Germany avoid recession in third quarter

(Reuters) - A sharp rise in private consumption more than compensated for stubborn weakness in investment, helping the German economy post modest growth in the third quarter and avoid recession, data showed on Tuesday.

Countdown to missed opportunity for EU economy

(Reuters) - The countdown has begun to what threatens to be a missed opportunity to revive Europe's stalled economy.

Unemployment rates fall in two-thirds of US states

WASHINGTON (AP) -- Unemployment rates fell in 34 U.S. states in October, a sign that steady hiring this year has been broadly dispersed through most of the country.

Tax debts: HMRC powers to raid bank accounts revised by Treasury

Controversial plans that allow HM Revenue and Customs (HMRC) to raid bank accounts to collect tax debts have been revised by the Treasury.

China Cuts Interest Rates to Boost Flagging Economy

China’s central bank has cut interest rates, for the first time in more than two years.

Rajan Should Cut Benchmark India Rate, Central Bank Adviser Says

Reserve Bank of India Governor Raghuram Rajan should cut the benchmark interest rate as it will help growth recover without stoking inflation, a member of the central bank’s monetary policy advisory panel said.

France plans to beef up labor reforms

(Reuters) - The French government will press ahead cautiously with controversial labor reforms making it easier to fire staff, as it seeks to fight unemployment by making the job market more flexible, officials said on Tuesday.

Japan PM Shinzo Abe calls snap election in December

Japan's Prime Minister Shinzo Abe has called an early election, two years ahead of schedule. At a news briefing, he said he would dissolve parliament later this week and was also delaying a planned but unpopular increase in sales tax.

Banking culture needs fundamental overhaul not fines, Mark Carney says

Mark Carney has warned bankers they should lose more of their pay in cases of wrongdoing – in addition to forfeiting bonuses – after a series of fines for bad conduct have failed to improve standards across the scandal-hit industry.

Merkel urges Europeans to speed up TTIP trade talks with U.S.

SYDNEY - German Chancellor Angela Merkel urged European nations on Sunday to speed up their negotiations with the United States over a Transatlantic Trade and Investment Partnership (TTIP) agreement between the U.S. and EU.

G20's Carney says bank crisis reforms "substantially complete"

LONDON, Nov 14 (Reuters) - The job of fixing flaws that led to the 2007-09 financial crisis is largely done and the focus will now turn to spotting new risks and rebuilding trust among regulators, the Financial Stability Board said on Friday.

Australia's Abbott wants economic reform to be focus at G20

(Reuters) - Australian Prime Minister Tony Abbott, the host of the G20 Leaders Summit, said on Saturday he wanted an informal retreat of leaders to discuss economic reform but was open to other issues.

IMF warns Russia's economy to suffer from falling oil prices

(Reuters) - The International Monetary Fund on Thursday welcomed Russia's move to float the rouble, but warned it would not be enough to cushion the country's oil-dependent economy from the impact of falling crude prices.

Interest rates may be held until late 2015 as inflation likely to fall below 1%

The Bank of England has signalled that interest rates could remain on hold until next autumn as inflation is likely to fall below 1% in early 2015.

Dollar's rise natural given relative strength of U.S.: Fed's Rosengren

(Reuters) - Boston Federal Reserve bank President Eric Rosengren said the rise of the dollar against currencies like the yen and euro reflects the strength of the U.S. economy and doesn't indicate a currency war is developing.

UK employers call for government action to boost earnings

(Reuters) - Britain should allow workers to earn more before they start to pay "National Insurance" social security contributions and provide more childcare to boost living standards, one of country's leading employers' groups said on Monday.

Kuroda sprang easing surprise to head off damaging inflation forecast

(Reuters) - The Bank of Japan Governor not only surprised the markets with his latest splurge of monetary easing.

Mark Carney: Bumpy ride ahead for global economy

Dramatic shifts in the financial landscape mean that a return to normal market conditions “could be bumpy”, Mark Carney, the Bank of England’s Governor has said.

Luxembourg and Juncker under pressure over tax deals

French, German and Dutch finance ministers have rounded on Luxembourg for allowing multinational companies to create complicated structures to avoid billions of dollars of tax.

Where the Next Financial Crisis Will Come From

The next financial crisis won’t come from the banking sector. That’s the message implicit in the latest report on the global financial sector from the Financial Stability Board, the group that monitors what’s happening with the world’s money flow.

Pace of UK economic growth expected to halve as service sector slows

The pace of Britain’s recovery is expected to almost halve by the end of the year after a survey showed the services sector expanded at the slowest pace in almost 18 months in October.

Greece proposes bad debt write-off for small businesses

(Reuters) - Greece's government on Monday proposed forgiving up to half of about 40 billion euros in bad loans incurred by small businesses, to take some strain off a sector hammered by a six-year recession.

World Bank to Cut 500 Jobs Globally, Create New Posts in India

Washington: The World Bank plans to slash 500 jobs in the next three years globally, even as it looks to create up to 300 new positions in India to meet business needs.

RPT-China's October official PMI edges down to 50.8

Nov 1 (Reuters) - China's factory sector grew in October but at a pace that was slightly slower than expected, underlining the challenges facing the sector as manufacturers fight rising costs and softening demand in a cooling economy.

U.K. Consumer Confidence Weakens as Euro Area Hampers Economy

U.K. consumer confidence weakened this month as Britons’ outlook for the economy deteriorated, according to GfK NOP Ltd. The research group’s household-sentiment index fell to minus 2 from minus 1 in September.

Germany denies report on post-bailout aid for Greece

(Reuters) - The German government on Thursday denied a Greek media report that Finance Minister Wolfgang Schaeuble and his Greek counterpart Gikas Hardouvelis had reached an agreement on further support for Greece after it exits its bailout program.

China could 'punish' Hong Kong over protests, says ex-HK central bank chief

A member of China’s central bank’s advisory body warned on Wednesday that Beijing will punish Hong Kong if pro-democracy protests that have paralysed parts of the Chinese-controlled financial centre for a month are allowed to continue.

Deutsche Bank swings to €92m loss on legal costs

Deutsche Bank swung to a loss in the third quarter because of higher legal costs to settle investigations.

BoE's Shafik sees no significant evidence of price pressures: FT

(Reuters) - The Bank of England will need to see more signs of price pressures building in Britain's economy before it raises interest rates from record low levels, its deputy governor Minouche Shafik said on Monday.

ECB List of Failing Banks Shrinks If You Read Small Print

Most of the lenders that failed the European Central Bank’s balance-sheet test have been let off for good behavior.

Eurozone survey rise does not ease recession fears

LONDON (AP) - A stronger than anticipated economic survey Thursday failed to inspire much optimism that the recovery in the 18-country eurozone and of France in particular would be anything but muted.

U.S. new home sales at six-year high; recovery still fragile

(Reuters) - Sales of new U.S. single-family homes rose to a six-year high in September, but a sharp downward revision to August's sales pace indicated the housing recovery remains tentative.

Asia economic growth to languish as China slows: poll

(Reuters) - Emerging Asia will contribute less to the global economy in 2015 than was expected just months ago as a slowdown in China drags on growth in the region, partially offset by acceleration in the United States, Reuters polls showed.

UK housing market is cooling, says BBA

Mortgage activity dropped in September compared with a year ago signalling a UK housing market that is "continuing to cool", banks have said.

Italian police uncover €1.7bn corporate fraud

Italian police have uncovered a fraud which they say has cost Italian taxpayers €1.7bn (£1.3bn; $2.2bn).

Homemovers stranded after Bank of England mortgage payment system crashes

If you're buying or selling a house today there’s bad news from the Bank of England. Its mortgage payment system collapsed this morning, leaving potentially thousands of homemovers stranded.

Australia monetary policy setting set to support demand growth: RBA

(Reuters) - Australia's monetary policy setting is currently configured to support growth in demand, a senior Reserve Bank of Australia (RBA) official said on Monday.

Obama unveils new measures to stem identity theft

US President Barack Obama on Friday ordered "pin and chip" security measures for government payment systems, aiming to stem the proliferation of credit card fraud and identity theft.

Angela Merkel: the eurozone's one constant

Five years ago today, Greece’s then Prime Minister, George Papandreou, disclosed to the world that his country was in severe fiscal difficulties.

US factory figures help bring calm to markets after days of turmoil

Strong US factory output growth and the intervention of a senior American central bank official brought some relief to markets following three days of turmoil that have knocked billions of pounds off the value of the FTSE 100.

Banks told not to expect seamless global rules

(Reuters) - New global rules making the financial system safer won't be seamless and could be revised soon to help economic growth, senior government and regulatory officials said on Thursday.

UK inflation falls to five-year low of 1.2%

Inflation has slumped to its lowest rate for five years, hitting 1.2% in September and taking pressure off the Bank of England to raise interest rates in coming months.

Draghi’s ‘Whatever It Takes’ Plan Faces Trial at EU Court

European Central Bank President Mario Draghi’s pledge to do “whatever it takes” with a bond-buying plan to save the euro-area goes on trial before the European Union’s top judges today.

Income tax revenue could be lower than expected, finance watchdog says

Income tax revenues in the UK are likely to be lower than expected despite rising numbers of people in work, the official public finances watchdog has warned.

China's central bank sees 'very low' risk of hard landing

(Reuters) - The chance of a hard landing for China's economy is very small in spite of worries about the country's real-estate sector, the chief economist of the People's Bank of China said on Saturday.

Euro zone austerity is mostly over: ECB's Coeure

(Reuters) - Most European countries have already made efforts to consolidate public finances so a discussion on austerity policies in Europe is largely over, the European Central Bank's Executive Board member Benoit Coeure said on Friday.

Germany needs ‘small miracle’ to avoid recession after exports fall by 5.8%

German exports suffered the biggest monthly fall in more than five and a half years in August, leaving Europe’s largest economy in need of “a small miracle” to avoid recession in the third quarter.

BoJ has many policy easing options if needed: Kuroda

(Reuters) - The Bank of Japan has many tools available if it were to ease monetary policy further, Governor Haruhiko Kuroda said, adding that the Japanese government bond (JGB) market is a "huge" one among various financial assets the central bank can tap.

Prolonged German downturn could prompt stimulus rethink

(Reuters) - The last thing the faltering European economy would appear to need right now is a sudden downturn in Germany, hitherto the bloc's pillar of strength.

British economy grew by 0.7% in third quarter, says NIESR

Britain’s economic recovery lost steam in the third quarter with growth of 0.7%, according to the National Institute of Economic and Social Research.

Japan PM, Finance Minister unalarmed by weak yen for now

(Reuters) - Japan's Finance Minister Taro Aso said the yen, which struck a six-year low against the dollar last week, was not particularly weak, while Prime Minister Shinzo Abe said the currency's decline was both good and bad for the economy.

On Manufacturing Day, share of sector’s employment sinks to new low

Every politician likes to talk about manufacturing, because it’s shorthand for decent, middle-class jobs. And it’s appropriate topic to talk about on Friday, since Oct. 3 has been dubbed “National Manufacturing Day” by President Barack Obama.

Russian Inflation Rate Surges to Highest in Three Years

Russian inflation accelerated to the fastest pace in three years, putting pressure on the central bank to raise interest rates even as economic growth shrivels.

U.S. trade deficit narrows on rise in exports

Oct 3 (Reuters) - The U.S. trade gap unexpectedly narrowed in August to its smallest level in seven months on an increase in exports, supporting views of sturdy economic growth in the third quarter.

BOE Signs Off Housing Stimulus as FPC Requests More Powers

U.K. Chancellor of the Exchequer George Osborne’s housing initiative doesn’t pose a risk to financial stability, the Bank of England said today as it asked the government for more powers to limit mortgage lending.

Fed to publish new U.S. labor market index monthly starting October 6

(Reuters) - The Federal Reserve will begin publishing a new monthly index of U.S. labor market conditions on Monday, October 6, that draws on a range of data to give a better sense of the economy's health.

RBS shares jump as bank’s bad debts improve

Royal Bank of Scotland is erasing £800m of bad debt provisions because of a dramatic improvement in its Irish operations and other troublesome areas of its business.

Consumers face 'lost decade' as spending squeeze bites

British consumers face another three years of squeezed spending, an influential report suggests, amounting to a "lost decade" for households.

German economy minister: 2014 GDP growth could be less than forecast

(Reuters) - Germany could grow less in 2014 than the 1.8 percent forecast by the government early this year, Economy Minister Sigmar Gabriel said in an interview published on Sunday, although he added the country was still in good shape compared to euro zone peers.

Banks could face record fines totalling £1.8bn over currency rigging

Six major banks caught up in the investigation into rigging the currency markets are being pressed by the regulator to agree to fines – possibly of as much as £1.8bn – in the next eight weeks.

Fed's Lockhart says weak demand puts rate hike timetable in doubt

(Reuters) - Atlanta Federal Reserve bank president Dennis Lockhart said the U.S. economy is still hampered by weak demand at home and internationally, potentially pushing the need to raise interest rates later into next year.

China steel demand shrinks for first time in 14 years as slowdown stings

DALIAN China (Reuters) - China's steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.

German business confidence falls further, Ifo survey finds

Europe's largest economy has shown further signs of fragility, as a key indicator of German business confidence fell for a fifth successive month.

ECB's Visco says disinflation weighing on high-debt countries

(Reuters) - The euro area may struggle to recover from the economic crisis with entrenched high unemployment and weak investment hitting heavily indebted countries already suffering from disinflation, ECB Governing Council member Ignazio Visco said on Tuesday.

Ed Balls proposes spending watchdog role in vetting expenditure plans

Ed Balls has sought to reassure voters that Labour can be trusted with public finances by announcing plans to allow the Office for Budget Responsibility (OBR) to check future governments’ spending commitments are affordable.

With Eye on Market Stability, Fischer Carves Out Fed Role

Investors are becoming complacent about risks in financial markets as loose monetary policy spurs a search for yield, the Financial Stability Board said today.

ESM's chief says EU, IMF in no mood for a Greek debt haircut

(Reuters) - Greece's international creditors have no appetite for considering a haircut as a way to lighten its debt load, the head of the European Stability Mechanism, the euro zone's bailout fund organization, told Greek Sunday newspaper Realnews.

Investors Complacent About Financial Market Risks, FSB Says

Investors are becoming complacent about risks in financial markets as loose monetary policy spurs a search for yield, the Financial Stability Board said today.

Wall Street sees holes in Fed's new policy-tightening plan

(Reuters) - No sooner did the Federal Reserve reveal its plan for eventually tightening U.S. monetary policy than many on Wall Street flagged problems with the mechanics of the strategy, and said more adjustments would have to come.

UK jobless rate falls to lowest level since 2008

The unemployment rate fell to 6.2% over the three months to the end of July, its lowest level since 2008, official figures show.

OECD slashes growth forecasts, urges aggressive ECB action

(Reuters) - The OECD slashed its growth forecasts for major developed economies on Monday, urging much more aggressive ECB stimulus to ward off the risk of deflation in a subdued euro zone.

Russia to create anti-crisis fund to aid sanctions-hit companies

(Reuters) - Russia will create a multi-billion dollar anti-crisis fund in 2015 of money destined for the Pension Fund and some left over in this year's budget to help companies hit by sanctions, Finance Minister Anton Siluanov was quoted as saying on Monday.

Federal Reserve creates financial stability committee

WASHINGTON--The Federal Reserve is elevating its postcrisis efforts to monitor potential threats to financial stability, creating a high-level committee led by the central bank’s No. 2 official.

Argentina enacts law restructuring government debt

Argentina's Congress has approved legislation to restructure the country's debt and sidestep a US court ruling that recently pushed the government into its second default in 13 years.

BOJ chief tells Abe ready to take steps if price goal in doubt

(Reuters) - Bank of Japan Governor Haruhiko Kuroda told Prime Minister Shinzo Abe he is prepared to take whatever steps needed to achieve the central bank's 2 percent inflation target if it comes under threat.

Carney: massive shortfall in currency reserves for independent Scotland

Mark Carney was dragged further into the debate about the currency implications for an independent Scotland on Wednesday, telling MPs that in the event of a yes vote Scotland would need to amass billions of pounds of currency in reserves if it uses sterling without a formal agreement with Westminster.

Swiss Rate-Setter Search Is Chance to Catch Up on Diversity

The Swiss National Bank has just gained the chance to end the century-long male dominance of its governing board.

Stronger euro justifies easier monetary policy: ECB's Coeure

(Reuters) - A stronger euro is justification for an easier monetary policy, European Central Bank executive board member Benoit Coeure said in an interview with the Robert Schuman Foundation think tank.

China's export numbers beat forecasts for August

China's latest export numbers rose by 9.4% in August from a year earlier, beating forecasts of about 8% growth.

Scottish independence: pound could drop 10% in value

Scottish independence is expected to knock up to 10% off the value of sterling, taking it back to levels last seen when Britain was in recession.

Draghi's ECB surprise puts off bigger quantitative easing for now

(Reuters) - The European Central Bank's surprise interest rate cut and new schemes to bolster lending have allowed its president to swerve a thorny debate over full-scale money printing in the hope that such a move may never be needed.

Fed's Powell says alternative to Libor needed as soon as practical

(Reuters) - The U.S. Federal Reserve will accelerate its search for a substitute to the Libor benchmark interest rate to stave off what would be "a horrible mess" if the current system collapses with no alternative, Fed Governor Jerome Powell said on Thursday.

German industry orders weather Ukraine crisis in July rebound

BERLIN, Sept 4 (Reuters) - German industrial orders rose at their strongest rate in more than a year in July, raising hopes that Europe's biggest economy may yet weather the crisis in Ukraine and bounce back after a tricky second quarter.

UK recovery stronger than thought, official data shows

The Office for National Statistics has revised up its estimates for UK Gross Domestic Product during and after the recession.

Factory activity in Europe, Asia cools; demand lull a concern

(Reuters) - Factory activity in Europe and Asia cooled in August after a strong July, as new orders dwindled in the face of escalating tensions in Ukraine and a patchy recovery in China, purchasing managers indexes showed.

UK companies remain confident about economic outlook

Growth in UK manufacturing has eased back to more moderate levels, but companies remain confident about the economic outlook, according to a new study.

France's economics ills worsen but all remedies appear unpalatable

Emmanuel Macron had been in his new job less than 48 hours when he dropped his bombshell. Picked by François Hollande to be economy minister after a row over austerity prompted a reshuffle, the young investment banker suggested that France could consider an end to its hallowed 35-hour week.

Italy Posts Biggest Consumer Price Decline on Record Amid Slump

Italy’s consumer prices this month dropped the most since records began after the euro-area’s third-largest economy slipped into recession, adding to concerns that the region might be headed toward deflation.

Disappearing euro zone inflation set to heighten ECB concerns

(Reuters) - Euro zone inflation dropped to a fresh five-year low in August, data showed on Friday, something likely to concern the European Central Bank but not force it into immediate policy action.

UK to enjoy fastest growth since 2007: British Chambers of Commerce

(Reuters) - Britain's economy looks set to grow at its fastest rate since 2007 this year, but the rapid pace is unlikely to be sustained, the British Chambers of Commerce said on Wednesday after nudging up its growth forecasts for this year and next.

German consumer morale drops going into September: GfK

BERLIN: German consumer morale fell for the first time in more than 1-1/2 years heading into September as shoppers grew more wary of the impact on Europe's largest economy of sanctions on Russia and other international conflicts.

Survey: US Consumer Confidence Near a 7-Year High

U.S. consumer confidence this month reached its highest point in nearly seven years, boosted by strong job gains.

About-face for ECB's Draghi as he seeks to jolt euro zone into life

(Reuters) - Prodding governments to do more to boost demand and hinting at European Central Bank action to go along with it marks a major shift in ECB chief Mario Draghi's euro zone policy away from a focus on austerity toward reviving growth.

Economy improving, so why layoffs?

The economy appears to be gaining steam, but companies are still laying off hundreds of workers in the Dallas-Fort Worth area and thousands across the country.

BoE can resolve financial stability coordination issues: Broadbent

(Reuters) - There are potential "coordination issues" between the Bank of England's (BoE) new financial stability committee and other bank functions, a senior BoE official said on Saturday, adding that these issues can be resolved.

Merkel Says Russia-Ukraine Talks Unlikely to End Conflict

German Chancellor Angela Merkel reined in expectations that the leaders of Russia and Ukraine will agree on peace terms this week, saying a breakthrough is unlikely.

Italy asks EU to exclude infrastructure projects from deficits: minister

(Reuters) - Italy is asking the European Union to exclude spending on infrastructure projects from the calculation of national budget deficits, Transport Minister Maurizio Lupi was quoted as saying in Corriere della Sera newspaper.

France's Hollande says to speed up reforms, ease tax on poorest

(Reuters) - French President Francois Hollande said on Wednesday he would accelerate reforms while at the same time giving tax breaks to poorer households as he tries to win back confidence from voters who do not trust he can lift the country out of stagnation.

Euro zone business growth slows in July, prices fall: PMI

(Reuters) - Euro zone private business growth slowed more than expected this month, despite widespread price cutting, as manufacturing and service industry activity both dwindled, a survey showed on Thursday.

China should cut interest rates: government researcher

(Reuters) - China ought to loosen monetary policy further through "modest" cuts in bank lending rates and reserve requirements by next year to spur economic growth, a researcher at a government think-tank said.

Inflation falls more than expected

The annual rate of UK inflation rate fell more than expected in July as the cost of clothing, footwear, food and non-alcoholic drinks eased.

Yen Weakens on Reduced Haven Bid; Euro Near 2014 Nadir

The yen fell versus the euro as demand for havens deteriorated. The euro was about 0.3 percent from this year’s low versus the dollar after Germany’s economy contracted last quarter and France’s stagnated.

Eurozone woes deepen as Spain's industry slumps

Hopes for a recovery in the eurozone suffered another blow on Wednesday with figures showing industrial output fell for a second successive month.

Ruble Strengthens With Bonds on Oil Rebound, U.S.Economic Data

The ruble, the most-volatile currency in emerging markets, strengthened along with global peers as Brent rebounded and disappointing U.S. economic data boosted speculation the Federal Reserve won’t rush to raise interest rates.

Bank of England cuts wage forecast

The Bank of England has halved its forecast for average wage growth, saying it now expects average salaries to rise by 1.25% this year.

Afghan trade to rebound sharply once election deadlock over, officials say

(Reuters) - Uncertainty over Afghanistan's bitterly contested presidential election has helped drive a 20 percent drop in exports this year but Afghan trade officials say they expect revenue to rebound once a deadlock between rivals is resolved.

U.S. Treasury looking at increase in master limited partnerships

(Reuters) - The U.S. Treasury Department is looking into increased use by companies of the master limited partnership (MLP) as a business structure, a department spokesperson said on Monday, hours after a pioneering user turned its back on the MLP.

UK industrial production misses market expectations

Hopes for Britain’s economic rebalancing took another knock today as industrial production in June undershot market expectations.

WTO upholds 'rare earth' ruling against China

BERLIN (AP) — The World Trade Organization has upheld a ruling that China violated trade rules with restrictions on the export of "rare earths," the minerals used in mobile phones, hybrid cars and other high-tech products.

German industrial output fuels slowdown concerns

German industrial output rose 0.3% in June from May as concerns over the Ukraine crisis weighed on the economy.

Euro zone recovery uneven, rates to stay low: ECB's Draghi

(Reuters) - European Central Bank President Mario Draghi said on Thursday that an uneven economic recovery in the euro zone and the bloc's inflation outlook meant interest rates would stay low for an extended period.

UK house prices see 10.2% annual rise, says the Halifax

UK house prices in July were up 10.2% from a year earlier - the biggest annual change since September 2007, according to the Halifax.

Global economy one shock away from another crisis

The world is sliding towards another debt-ridden disaster, with the eurozone and China one shock away from a fresh crisis, according to a leading economics consultancy.

Central bank meetings to set stage for parting of ways

The European Central Bank, Bank of Japan, Bank of England and the central banks of India and Australia all hold meetings.

Ghana to seek an IMF program to stabilize cedi

(Reuters) - Ghanaian President John Mahama has ordered his government to open talks with the International Monetary Fund on a program to help stabilize the economy and halt a slide in the cedi currency, officials said on Saturday.

U.S. factory activity expands in July, pace slows: Markit

(Reuters) - The U.S. manufacturing sector expanded in July, but the pace of growth slipped from the previous month as growth in output, new orders and employment slowed, an industry report showed on Friday.

Europe hits Russia's biggest banks

Europe has cranked up the pressure on Russia by including the country's top two banks on a list of sanctions.

UK pension funds and insurers pose risks to financial stability

Pension funds and life insurers' investment decisions pose a potential threat to UK financial stability, according to research by the Bank of England.

IMF warns of potential risks to global growth

(Reuters) - Sharply higher interest rates around the world could combine with weaker growth in emerging markets to slice as much as 2 percentage points off global growth in the next five years, the International Monetary Fund said on Tuesday.

U.S. seen maintaining solid pace of jobs growth in July

(Reuters) - U.S employment growth likely retained enough momentum in July to help buoy the economy for the rest of the year.

Strike ends in South Africa as wages to increase

A four-week strike in South Africa has come to an end after the country's biggest trade union sealed a deal with employers.

U.S. business spending data gives mixed signals on growth

(Reuters) - A mixed reading on the health of U.S. business investment on Friday suggested the economy may not have rebounded as strongly in the second quarter as previously believed, but it offered hope for the rest of 2014.

GDP surpasses pre-recession high as economic growth hits 0.8%

Britain's economy has recovered the losses caused by the financial crisis and surpassed its pre-recession peak in the second quarter of the year, by posting a growth rate of 0.8%.

German business '100 percent behind sanctions' if Putin doesn't help

(Reuters) - A German business leader who has previously warned against economic sanctions on Russia has come out in support of tougher action if President Vladimir Putin fails to cooperate on stabilizing the situation in Ukraine.

Banks may have to set aside more to cover bad loans

Changes to international accounting standards will mean banks have to record potential losses from their loan portfolios sooner, rather than waiting for borrowers to default.

Australian banks cut fixed mortgage rates as RBA seen on hold

(Reuters) - Two of Australia's biggest banks cut their fixed-rate home loans on Wednesday in a move analysts said reflected lower borrowing costs and expectations that the Reserve Bank of Australia will keep rates at record lows.

SFO investigates price rigging in foreign exchange market

The Serious Fraud Office (SFO) has launched a criminal investigation into allegations of price rigging in the £3tn-a-day foreign exchange market.

Bundesbank sees German economy stagnating in second quarter

(Reuters) - The German economy probably stagnated in the second quarter in the face of political tensions abroad, the Bundesbank said on Monday, but chances are its recovery will not be held up for long by conflicts on the rim of Europe.

Kuroda Softens Yen Stance as Export Pain Evaporates: Currencies

Foreign-exchange traders detect a softening in Bank of Japan Governor Haruhiko Kuroda’s stance toward the stronger yen.

IMF sees Ukraine's economy shrinking faster than feared

Kiev (AFP) - The International Monetary Fund warned Friday that the pro-Russia uprising engulfing Ukraine's vital industrial east had dealt a "notable" blow that would shrink its economy faster than feared.

U.S. consumer sentiment dips in preliminary July reading

(Reuters) - U.S. consumer sentiment dipped in early July while an index of consumer expectations weakened for a third straight month, a survey released on Friday showed.

Ukraine crisis: US and EU boost sanctions on Russia

The US and EU have bolstered sanctions against Russia over its alleged support for separatists fighting in Ukraine.

Global business leaders push for infrastructure funding overhaul

(Reuters) - International business leaders are lobbying the Group of 20 bloc of advanced and developing countries to tackle a $57 trillion shortfall in global infrastructure, pressing for changes to funding rules they say would help big projects move ahead.

Inflation in sharp rise to 1.9% in June

The rate of UK inflation rose sharply in June, pushed up by higher clothing, footwear, food and non-alcoholic drinks prices, official figures show.

Fed official urges financial stability mandate

Federal Reserve Vice Chairman Stanley Fischer on Thursday suggested that banking regulators should seriously consider broadening their goals to include financial stability as policymakers around the world debate strategies for preventing another global crisis.

China President Xi Jinping departs for South America tour

BEIJING: Chinese President Xi Jinping on Sunday departed for a visit to four South American countries, including Brazil, to build ties in a resources-rich region traditionally considered the backyard of the United States.

U.S budget surplus falls to $71 billion in June

(Reuters) - The U.S. budget surplus was $71 billion at the end of June, down 39 percent from the same period last year, according to data released by the Treasury Department on Friday.

Bank of England keeps UK interest rates at 0.5%

The Bank of England has held UK interest rates at a record low of 0.5% for another month.

U.K. Would Prioritize Pound in Crises, ECB Tells Court

The Bank of England and other U.K. supervisors may prioritize sterling over the stability of the euro area during a crisis, a lawyer for the European Central Bank told a court today to justify its policy on clearinghouses.

ECB looks to banks to deliver quantitative easing on its behalf

(Reuters) - The European Central Bank is hoping a new round of long-term loans will be used by banks to drive down borrowing costs - a substitute for an asset-purchase scheme of its own which would avert a potentially damaging internal split.

British Chambers of Commerce warns against 'hasty' rate rise

The Bank of England should not make any "hasty decisions" on raising interest rates, warns the British Chambers of Commerce (BCC).

China's premier says country's economy improving

BEIJING (AP) — China's economy improved in the latest quarter but faces "downward pressure," and Beijing will increase the strength of targeted policy measures to shore up growth, the country's premier said Monday.

Rapidly rising UK house prices not just a 'London problem' - BoE's Cunliffe

LONDON (Reuters) - The problem of rapidly rising house prices is not isolated to London, a top Bank of England policymaker said on Thursday.

Spanish Notes Climb Amid Speculation ECB Loans Will Extend Rally

Spanish two-year notes rose for a second week, with yields dropping to a record, as details of the European Central Bank’s targeted-loans program boosted bets this year’s rally in fixed-income assets can extend.

ECB says measures will push inflation up, but money-printing still possible

(Reuters) - A raft of policy measures introduced last month will help lift inflation and support bank lending but the European Central Bank stands ready to create money in future if required, President Mario Draghi said on Thursday.

Hollande Says Big BNP Fine May Hit Europe Bank Stability

A potential $10 billion fine against BNP Paribas SA (BNP), France's biggest bank, for violating U.S. trade sanctions could have repercussions affecting the stability of Europe's financial sector, French President Francois Hollande warned ahead of his meeting with President Barack Obama.

Monetary policy not best financial stability tool: Yellen

(Reuters) - Monetary policy faces "significant limitations" as a tool to address financial stability risks, and would have caused major economic damage if it had been used to head off the U.S. housing bubble, Federal Reserve Chair Janet Yellen said on Wednesday.

EU banks watchdog backs keeping low capital charges on covered bonds

(Reuters) - European Union banking regulators has backed maintaining a low capital treatment for top quality covered bonds against the risk of default, a recommendation Denmark and other major players in the 2.8 trillion euro global market will welcome.

Fed won't raise interest rates for "some time": Williams

SUN VALLEY, Idaho, June 30 (Reuters) - The U.S economy will likely have returned to full employment and a healthy level of inflation by the end of 2016, a top Federal Reserve official predicted on Monday, even as he reiterated his view that interest rates will need to stay near zero for some time.

Britain and Cameron in EU danger zone, say experts

London (AFP) - David Cameron's failure to prevent Jean-Claude Juncker from becoming the new European Commission president risks pushing Britain out of the EU unless he builds bridges to secure reforms before a 2017 referendum, experts say.

Consumer Sentiment in U.S. Rose in June From Month Earlier

Consumer sentiment improved in June as higher stock prices and an improving labor market helped bolster Americans' views of the economy.

U.S. cuts Swaziland from trade benefits, reinstates Madagascar

(Reuters) - The United States cut Swaziland from a duty-free trade program on Thursday because of concerns about crackdowns on peaceful demonstrations and poor protection of workers' rights.

Pound Looks to Financial Stability Report to Drive BOE Rate Hike Bets

The spotlight turns to the Bank of England once again in European trading hours as Governor Mark Carney presents the bi-annual Financial Stability Report (FSR).

Shinzo Abe launches 'third arrow' of Japanese economic reform

Japanese prime minister Shinzo Abe outlined his long-awaited growth strategy on Tuesday spearheaded by promises of expanded childcare to bring more women into the workforce and an investment boom.

South African miners agree wage deal to end strike

Union leaders have signed a wage deal with South Africa's biggest platinum mining companies, ending the nation's longest-running strike.

Euro zone has correct fiscal stance to cut debt, help growth: IMF

(Reuters) - The euro zone's fiscal stance strikes the right balance between reducing debt and bolstering demand, the International Monetary Fund said in a statement on Thursday.

Unemployment Rates Fell In 20 US States In May

WASHINGTON (AP) — Unemployment fell in 20 states last month and nearly three-quarters of the states added jobs, as the nation at large posted a fourth straight month of solid hiring.

German financial stability watchdog warns of impact of low rates

BERLIN (Reuters) - Germany's financial stability committee warned on Wednesday that low interest rates and funds owed by creditors in some heavily-indebted euro zone states posed risks to the German economy, but overall stability had improved in the last year.

British public sector borrowing rises higher than expected

Britain's public sector finances showed little sign of improvement in May, with economists saying the government appears to be struggling to meet its target for reducing the deficit.

Argentina shares fall on debt repayment doubts

Argentina's stock market fell 3% in early trading after the country's cabinet chief said there would be no delegation to the US to negotiate with bondholders over a $1.3bn (£766m) debt.

Ed Balls refuses any role in currency union with an independent Scotland

Ed Balls has hinted that if he were chancellor in a future Labour government he would resign if talks began on currency union with an independent Scotland.

ECB package may have given Hungary more room to ease: central bank deputy

(Reuters) - Hungary may have more room to ease monetary policy if the ECB's new measures hold down local risk premia and inflation further, Hungary's deputy central bank governor Adam Balog told Reuters on Monday.

With China as guest, G77 summit seeks new development commitments

Santa Cruz de la Sierra (Bolivia) (AFP) - Leaders of developing nations plus China meet Saturday to draft a global anti-poverty agenda at a summit that also showcases Latin America's burgeoning relationship with the Asian giant.

South Africa’s Credit Rating Cut to One Level Above Junk by S&P

South Africa’s credit rating was cut to one level above junk by Standard & Poor’s as the longest mining strike in the nation’s history threatens to drag the economy into recession, curbing government revenue.

Bank of Canada's enhanced financial stability framework shows system is robust, housing vulnerabilities remain

OTTAWA , June 12, 2014 /CNW/ - The Bank of Canada today unveiled an enhanced framework to gauge the evolving risks to financial stability in its semi-annual Financial System Review (FSR), finding that the Canadian financial system is robust but still faces significant vulnerabilities.

Bank of England hints at possible rate rise this year

The governor of the Bank of England, Mark Carney, has signalled that interest rates may rise this year.

Japan to cut corporate tax rate below 30 percent within a few years: source

(Reuters) - Japan plans to lower the corporate tax rate below 30 percent within a few years starting from the next fiscal year, a source told Reuters on Thursday, as part of premier Shinzo Abe's package of steps to boost Japan's growth potential.

U.S. small business, jobs data bolster growth picture

(Reuters) - The U.S. economy has decisively turned the corner with small business confidence hitting its highest level in more than 6-1/2 years in May and the number of jobs available rising to pre-recession levels in April.

Global private wealth rises to $152tn

The amount of private wealth held by households globally surged more than 14% to $152 trillion (£90tn) last year, boosted mainly by rising stock markets.

David Cameron opens business festival for 'nation of geniuses'

Britain is a "nation of geniuses" that can be turned into the "most creative country on Earth", David Cameron will say on Monday as he opens the International Festival for Business in Liverpool.

Central Banks Channel Piketty Inequality Concerns, Nowotny Says

Inequality is becoming a factor in monetary policy as central bankers increasingly realize it can cause financial instability they’ll have to fix, European Central Bank Governing Council member Ewald Nowotny said.

Economy needs to tighten up before rates can rise: Fed's Powell

(Reuters) - Federal Reserve Governor Jerome Powell said on Friday that he wanted to see signs that the U.S. economy was tightening up before before interest rates could be raised.

Business boost in Queen's Speech

The government has announced a series of measures in the Queen's Speech that it said were "unashamedly pro-work and pro-business".

ECB set for growth-boosting interest rate cut

Expectations are running high that the European Central Bank (ECB) will loosen its monetary policy at its meeting on Thursday.

Fed may shun global risk rules banks spent billions to meet

(Reuters) - The Federal Reserve may scrap international measures aimed at assessing bank health in favor of imposing its own rules, frustrating bankers who have spent billions of dollars retooling their books to meet global standards.

UK construction industry still booming despite dip in May

British construction grew at the slowest pace in seven months in May but economists said the outlook remained strong amid a boom in housebuilding.

Osborne to target foreign exchange manipulation in City clean-up

The chancellor is working with Whitehall officials and the international Financial Stability Board (FSB) on new regulations which will be imposed on the market.

ECB Says Search for Yield May Harm Financial Stability in Europe

The European Central Bank said that financial stability in the euro area is at risk as investors step up their search for higher returns and weak economic growth weighs on banks’ balance sheets.

Canada First-Quarter Growth Slows as Harsh Winter Bites

Canada’s economic growth slumped in the first quarter as a harsh winter in North America slowed housing construction, business spending and exports.

Business lobby groups hail brighter UK economy

The UK economy is in good health, suggest two major business lobby groups, the CBI and the British Chambers of Commerce (BCC).

India's Modi to unveil top 10 policy priorities: aide

(Reuters) - Indian Prime Minister Narendra Modi is expected to unveil his top 10 policy priorities on Thursday, seeking to unblock an investment logjam and setting deadlines for action in order to revive the economy.

Cyprus economic outlook rises to around 2010 levels

(Reuters) - Economic sentiment in Cyprus improved significantly in May, a publicly funded survey showed on Wednesday, reaching 2010 levels after hitting a trough due to its international bailout last year.

Lagarde: Financial stability is central banks’ duty

SINTRA, Portugal—Central bankers around the world may have to take financial stability into greater account, in addition to their usual duties of keeping inflation low while maintaining close cooperation with each other, International Monetary Fund managing director Christine Lagarde said Sunday.

BOJ's Iwata signals chance of tapering if economy overheats

TOKYO, May 26 (Reuters) - Bank of Japan Deputy Governor Kikuo Iwata signalled on Monday the possibility of withdrawing the central bank's massive monetary stimulus if the economy overheats and nudges up inflation well above its 2 percent price target.

Is the financial crisis in US, over and already forgotten?

Michael S. Barr, a law professor at the University of Michigan who was an assistant Treasury secretary when the financial crisis was at its worst, is working on a book titled "Five Ways the Financial System Will Fail Next Time."

EU should consider its business in Russia when deciding on sanctions - Kremlin

May 24 (Reuters) - The European Union should consider the interests of European companies working in Russia when deciding on whether to impose sanctions on Moscow over its involvement in Ukraine, President Vladimir Putin's top economic aide said on Saturday.

German economy to slow after strongest quarter in 3 yrs in Q1

BERLIN, May 23 (Reuters) - Germany's economy grew at its fastest rate in three years in the first quarter, driven by domestic factors, while a leading indicator of sentiment signalled that expansion in Europe's largest economy is set to slow.

Canada Inflation Hits Poloz Goal for First Time in 2 Yrs

Canada’s inflation rate quickened in April to reach the central bank’s target for the first time in two years, led by higher energy costs that Governor Stephen Poloz says he will disregard.

ECB's Mersch: Banks need to be strong enough to meet credit demand

(Reuters) - Euro zone banks need to be strong enough to support a pick up in credit demand to keep the euro zone recovery going, European Central Bank Executive Board member Yves Mersch said on Saturday.

SEC chair: Risk panel needs more capital markets expertise

WASHINGTON (Reuters) - The U.S. regulatory risk council should make sure it has enough securities market expertise before deciding whether to designate large financial firms as systemic, Securities and Exchange Commission Chair Mary Jo White said on Thursday.

Exclusive: Afghanistan suffers trade blow as China halts dollar deals with its banks

(Reuters) - Chinese banks have halted dollar transactions with most Afghan commercial banks, the central bank governor said on Thursday, making it difficult for businesses to pay for imports from one of Afghanistan's biggest trading partners.

Bank of England Governor issues warning over housing inflation

Britain’s housing market has deep structural problems and rising prices represent the biggest risk to the economy, the Governor of the Bank of England warns today.

Italy's Berlusconi says was forced from office by EU 'plot'

(Reuters) - Former Italian Prime Minister Silvio Berlusconi repeated accusations on Wednesday that he was forced out of office at the height of the euro zone crisis in 2011 as the result of a "plot" by European Union officials.

Consumer Confidence in U.S. Unexpectedly Declined in May

Consumer confidence unexpectedly fell in May from a nine-month high, showing Americans are being shaken by rising grocery bills and elevated fuel costs.

Italy's modest labor reform shows Renzi's momentum faltering

(Reuters) - Italy's chamber of deputies approved modest labor reforms on Thursday after a difficult passage through parliament, underlining the challenges facing Prime Minister Matteo Renzi in his pledge to overhaul the economy.

UK unemployment rate falls to five-year low

The number of people out of work in the UK fell by 133,000 to a fresh five-year low of 2.2 million in the three months to March, official figures show.

China tensions may have made this market a bargain

Territorial clashes with China have pushed Vietnam's shares down more than 10 percent over the past month and even though tensions haven't eased, some analysts are tipping a bargain buying opportunity.

Financial regulators raise concerns over money funds

A U.S. council of regulators looking at whether asset managers pose a potential threat to the financial system said Wednesday that money-market funds can be vulnerable to runs during periods of volatility.

Fed's Kocherlakota: diversity improves policymaking

(Reuters) - A diverse workforce that cuts across gender, ethnic and geographic lines can improve policymaking by generating a larger and better pool of ideas, Minneapolis Federal Reserve Bank President Narayana Kocherlakota said on Friday.

UK's economy grew 1 percent in three months to April - NIESR

LONDON (Reuters) - Britain's economy grew by 1.0 percent in the three months to April, its fastest pace since June 2010, the National Institute of Economic and Social Research estimated on Friday.

Deflation risks in euro zone low: European Commission

(Reuters) - The risk of deflation in the euro zone is very low, the European Commission said on Monday, but price growth will pick up more slowly than expected this year and next, partly because of a stronger euro and a weak recovery.

Mario Draghi's pillow talk keeps the euro below $1.40

That Mario Draghi, he's such a tease. Rarely has there been a central banker who can string along financial markets by talk alone and the president of the European Central Bank was at it again on Thursday.Be patient, Draghi said.

Bank may yet need to go nuclear to burst the housing bubble

The Bank of England did not need the Organisation for Economic Cooperation and Development to point out the risks of a property bubble in the UK.

Beware the Russia risk, warns Europe

Growing tensions with Russia could hit growth in Europe this year and next, warned the European Commission in its latest outlook.

Australia central bank seen on hold even as tough budget looms

(Reuters) - Australia's central bank is almost certain to maintain a neutral policy bias this week with a batch of data likely to point to an economy that is picking up speed, uncomfortable reading for a government preparing voters for a tough federal budget.

ECB Seen Holding Off More Policy Accommodation: Global Economy

Policy makers at the European Central Bank convening this week will probably hold off taking additional steps to stave off the risk of deflation amid inconsistent signals on the direction of prices.

Fed seen hiking rates in June 2015 as U.S. job creation surges

(Reuters) - The Federal Reserve could start raising benchmark interest rates in just over a year, based on trading in U.S. short-term interest-rate futures after a government report showed employers added many more jobs than expected in April.

Royal Bank of Scotland fears losing staff over bonus block

The boss of Royal Bank of Scotland warned on Friday that he was concerned he might lose key staff as a result of the government's refusal to back its bonus plans for 2014.

BOE’s Haldane Offers Few Clues on Monetary Policy

Andrew Haldane, the Bank of England’s big thinker on financial stability, takes up a new role setting interest rates as the central bank’s chief economist in June but his views on monetary policy are largely unknown.

BOJ projects inflation exceeding 2 percent, keeps bullish view intact

(Reuters) - The Bank of Japan projected for the first time on Wednesday that inflation will exceed 2 percent roughly two years from now, underscoring its conviction that a sustained end to deflation is on the horizon without additional stimulus.

U.S. Economy Barely Grew in First Quarter

The American economy slowed drastically in the first quarter of 2014, as wintry weather depressed corporate spending and housing sector activity, while smaller additions to inventories by farmers and businesses also held back growth.

Canadian Consumer Confidence Reaches Almost 4-Year High

Canadian consumer confidence was the highest in almost four years last week as sentiment about the job market improved and the real-estate outlook remained strong.

Fed, with bond taper on autopilot, free to tackle big questions

SAN FRANCISCO/NEW YORK (Reuters) - Federal Reserve policymakers this week are set to continue paring their massive bond-buying stimulus, but below the smooth surface of a likely unanimous vote lies a deeply divided Fed struggling to lay the groundwork for more difficult decisions ahead.

South Africa c'act gap risk to financial system stability - cbank

JOHANNESBURG (Reuters) - South Africa's current account deficit, while shrinking, presents a marked risk to the stability of the country's financial system, the Reserve Bank said on Thursday.

Japan's Suga: Not sure if Japan, U.S. can agree on trade

(Reuters) - Japan's top government spokesman said on Friday that he is not sure whether Japan and the United States can reach an agreement in bilateral trade talks needed to push forward with the Trans-Pacific Partnership pact, unless Japan's position is accepted.

Bank of England raises UK growth forecast

The Bank of England's Monetary Policy Committee (MPC) has increased its UK economic growth forecast for the first quarter of the year, from 0.9% to 1%. Minutes from the latest MPC meeting showed the revised estimate.

Arab banks see Middle East opportunities as some global banks scale back

(Reuters) - Big Arab banks with money to spend are expanding across the Middle East in markets such as Egypt and Iraq, as they take advantage of a retreat from some areas by major international rivals, senior Arab bankers say.

IMF Ukraine Aid Report Said Ready for Board Review Within Days

The International Monetary Fund’s executive board will receive within days a staff report detailing Ukraine’s proposed loan program, in an effort to approve emergency financing by early May, a board official said.

Americans still don't trust the stock market

More than five years after the financial crisis, the average American is still wary of the stock market, according to a survey released Monday.

Spanish banks face tough rivalry in small companies bet

MADRID (Reuters) - Across Spain, the message is hard to miss in office windows showcasing offers: banks want to lend to small companies again.

Jobless claims, factory data put some shine on economy

(Reuters) - New claims for jobless benefits hovered near their pre-recession levels last week and manufacturing in the Mid-Atlantic region accelerated in April, suggesting an upswing in economic activity after a brutally cold winter.

£15 per hour for Swiss workers: Referendum on plans to introduce the world’s highest minimum wage has employers worried

Jasmin Eicher has already axed her only full-time employee to keep her shop afloat, which sells cards, candles and paper in a Zurich suburb.

Latin America's growth prospects fizzle on local concerns

(Reuters) - The next two years look more challenging for Latin American economies than previously thought, with prospects for slower growth and higher inflation defying recent market optimism about emerging markets.

US tells China it must allow its currency to strengthen

The US has told China its currency must be allowed to rise if it and the global economy are to see stable growth.

Fed’s Stein: Financial Stability Fits Within Central Bank’s Dual Mandate

The Federal Reserve doesn’t need to expand its focus from its dual mandate to take financial-stability concerns into account, Fed governor Jeremy Stein said Sunday.

US retail sales see biggest gain in 18 months

US retail sales saw their biggest gain in 18 months in March, according to official figures. It is a further sign that the economy is shrugging off the effects of the third-coldest winter on record, which affected economic activity.

EU to approve bank rules before May election slows legislative machine

(Reuters) - The European Union will sign off on a slew of major reforms this week to allow failing banks to be wound down without public money, clearing its desk before elections in May that may lead to a slower pace of legislation.

IMF Warns Over Stimulus Dependence, U.S. Financial Stability Risks

NEW YORK (TheStreet) -- The International Monetary Fund urged nations to move beyond their dependence on stimulus programs and warned of financial stability risks, as investors look to the release of Federal Reserve minutes Wednesday for clues on central bank decision-making.

Bank of Canada's Poloz eyeing global deflationary risk

(Reuters) - Policymakers are closely watching the risk of deflation in several advanced economies but they are encouraged by signs of a continuing improvements in the economic outlook, Bank of Canada Governor Stephen Poloz said on Friday.

Britain's property market posts highest sales level in more than six years

Britain's property market recorded the highest level of sales in more six years over the first three months of this year – but the surge came with a health warning from the Royal Institution of Chartered Surveyors (Rics).

IMF warns Europe's banking system poses threat to global financial stability

The eurozone's creaking banking system poses a serious threat to global financial stability, according to the International Monetary Fund, which warned European leaders to accelerate plans to support weak banks and create a banking union.

Sweden raises 2014 growth forecast in spring budget, last before vote

(Reuters) - Sweden's economy will grow at a faster pace than previously expected this year the government said on Wednesday in a spring budget that promised prudence rather than new spending measures ahead of an election in September.

Carney’s Policy Autopilot Gives Time for McKinsey Revamp

Mark Carney picked a good time to implement sweeping changes at the Bank of England.

Germany says trusts France will stick to EU stability pact

(Reuters) - The German government is confident France will respect the terms of the European Union's Stability and Growth Pact even after Paris indicated it would seek to renegotiate its deficit-reduction deadline with the European Commission, a government spokesman said on Friday.

Conservatives should scrap inheritance tax outright, thinktank suggests

The Conservative party would be better off scrapping inheritance tax altogether rather than increasing the threshold to £1m, the Institute for Fiscal Studies has suggested.

US economy adds 192,000 jobs in March

The US added 192,000 new jobs in March, in line with expectations, as the unemployment rate held steady at 6.7%.

ECB keeps interest rates on hold at 0.25%

The European Central Bank (ECB) has kept its benchmark interest rate at a record low of 0.25%. It comes despite the fact that inflation in the currency bloc fell to a five year low in March.

Eurozone approves next Greece bailout payment

Eurozone ministers have signed off the next 8.3bn euro (£6.8bn; $11.4bn) instalment of Greece's bailout.

Tapering hits Aberdeen as outflows jump in Q1

The US Federal Reserve decision to taper its bond- buying programme in December has continued to weigh on Aberdeen Asset Management during the first quarter of the year, new figures show.

IMF still sees advantage for 'too important to fail' banks

(Reuters) - Top banks in the euro zone benefited from an implicit taxpayer subsidy of $90 billion to $300 billion in 2012 due to ongoing state support which makes them "too important to fail," the International Monetary Fund said in a report on Monday.

Fed to review stress test procedures after correction

(Reuters) - The Federal Reserve on Saturday said it was reviewing the procedures of a closely watched exam banks must pass each year to prove their robustness after it had to correct the results.

British Insurance Stocks Fall on Regulator’s Plans for Review

LONDON – Shares of British insurers slumped Friday after the Financial Conduct Authority confirmed it planned to conduct a review later this year on whether long-standing customers were being treated fairly by their insurers.

Fed's Bullard: Financial Stability Concerns Loom Large

HONG KONG – St. Louis Federal Reserve Bank President James Bullard said Thursday that the key risk for U.S. economy would be a bubble forming as the central bank removes monetary-policy accommodations, while he also raised concerns about financial stability in the U.S. economy.

RBA says no immediate financial stability risks from house prices

The Reserve Bank of Australia does not see financial stability risks from rising house prices, but with its cash rate at a record low 2.5% it is actively monitoring the industry, according to comments from the biannual Financial Stability Review published Wednesday.

IMF signs off on latest review of Romania aid program

(Reuters) - The International Monetary Fund approved the first and second reviews of Romania's aid deal on Wednesday, after weeks of bickering over taxes between the government and the president threatened to derail years of deficit-cutting reforms.

UK inflation hits new four-year low in February, house prices up sharply

(Reuters) - British inflation fell to its lowest in more than four years in February, dipping further below the Bank of England's target and easing the pressure on Britain's living standards.

Canada to Reform Local Libor-Style Rates, BOC’s Lane Says

The Bank of Canada is taking steps to shore up governance of the local equivalents of benchmark Libor rates, to ensure there are no manipulation scandals as seen in other countries, Deputy Governor Tim Lane said.

IMF's Lagarde says can't do much about reform without U.S. support

(Reuters) - International Monetary Fund chief Christine Lagarde said on Sunday that there was not much she should could to push reform at her organization and give emerging economies a bigger say without the support of the United States.

Fed's Stein: Financial Stability Considerations Should Influence Monetary Policy

WASHINGTON--Federal Reserve Governor Jeremy Stein on Friday said the central bank should raise interest rates when needed to prevent financial excesses from building in markets and argued the bond market may provide guidance to policy makers on when financial vulnerabilities exist.

Russian shares fall sharply on Western sanctions

Russian shares fell sharply on Friday as investors weighed the impact of western sanctions over Ukraine.

Spain Reaps Investment Boon as Rajoy Reforms Lure FDI

Prime Minister Mariano Rajoy’s progress in luring investors back to Spain is spreading well beyond the bond market.

Mark Carney says Bank of England needs more power

Mark Carney said that a more powerful Bank of England was needed to prevent future financial crises and sought to distance himself from a "fatally flawed" central banking model brought in by Tony Blair's Labour government.

Treasury’s Cohen Sees No Widespread Criminal Bitcoin Use

The U.S. government sees no evidence of “widespread” use of virtual currencies such as Bitcoin to evade sanctions or finance terrorism, the Treasury Department’s top official targeting money laundering said.

Italy PM Renzi says to accelerate growth and respect EU limits

(Reuters) - Italian Prime Minister Matteo Renzi said on Monday the goal of his government is to increase the country's growth rate, which has been among the lowest in the euro zone for more than a decade, while respecting European Union budget limits.

China's high wire act on failing companies

China looks ready to let more companies go to the wall as part of its economic reforms, shaking financial markets that are used to the government bailing out firms at the last minute.

Fed vice chair nominee Fischer stresses financial stability

SAN FRANCISCO/ NEW YORK (Reuters) - Stanley Fischer, U.S. President Barack Obama's pick for the No. 2 spot at the Federal Reserve, dove in Wednesday to one of the most important debates at the U.S. central bank, as he called for making financial stability an "explicit" policy focus.

Russian central bank keeps rates on hold, prioritises financial stability

MOSCOW, March 14 (Reuters) - The Russian central bank kept its key lending rates unchanged at a regular meeting on Friday, after unexpectedly raising them two weeks ago when assets tumbled on President Vladimir Putin's declaration he had the right to invade Ukraine.

Draghi Says ECB Guidance May Help to Curb Euro Strength

European Central Bank President Mario Draghi said his forward guidance may help to weaken the euro and lower real interest rates, easing the risk that inflation won’t return to the goal set by policy makers.

UK financial body urges quick action over foreign exchange 'fixing'

LONDON (Reuters) - Regulators should deal quickly with allegations that banks have rigged the $5.3 trillion-a-day foreign exchange market to avoid harming Britain's reputation as a financial centre, a top industry official said on Tuesday.

BOJ to hold fire but exports seen as a concern

TOKYO, March 11 (Reuters) - The Bank of Japan is expected to maintain its massive monetary stimulus on Tuesday on a view the economy can weather a sales tax increase in April without extra support, although there is expected to be some concern about weakness in exports.

White House has optimistic growth forecast for 2014, 2015

(Reuters) - The White House on Monday forecast more robust economic growth in 2014 than last year and a further pickup in the economy for 2015.

UK economy to hit pre-recession peak by summer, BCC says

The size of the overall UK economy will this summer overtake the peak level it was at before the 2008 financial crisis, a business lobby group says.

Canada, South Korea close to free trade deal: Canadian PM

(Reuters) - Canada Prime Minister Stephen Harper said on Sunday he hopes to finalize a free trade agreement with South Korea during a trip there this week.

China allows first ever corporate bond default

A Shanghai solar panel maker has become the first ever Chinese company to default on its corporate bonds, after the government refrained from bailing it out on Friday.

ECB trims inflation, raises growth forecasts for 2014

ECB president Mario Draghi told a news conference that the central bank is pencilling in economic growth of 1.2 percent in 2014, 1.5 percent in 2015 and 1.8 percent in 2016.

BoE's Haldane says IMF needs more funds

MANCHESTER, England (Reuters) - The International Monetary Fund needs more money to become a better bulwark against financial crises spreading, a senior Bank of England official said on Wednesday.

Obama budget plan claims $5.3 trillion in deficit reduction

WASHINGTON, March 4 (Reuters) - President Barack Obama's fiscal 2015 budget aims to keep alive hopes for major deficit reduction by claiming that proposed tax hikes and spending proposals, coupled with previous actions, will lead to $5.3 trillion in budget savings over 10 years.

Conflict in Ukraine would destroy regional stability: PM

KIEV (Reuters) - Ukrainian Prime Minister Arseny Yatseniuk warned on Monday that a military conflict in his east European country would threaten the stability of the whole region.

European center-left launches election drive, attacks austerity

(Reuters) - European center-left parties called on Saturday for a change to austerity policies enacted to counter the euro zone crisis as they named Martin Schulz to be their candidate for next head of the European Commission.

U.S. GDP revised down, but hints of economic thaw emerge

(Reuters) - The U.S. government slashed its estimate for fourth-quarter economic growth on Friday in the latest sign of a loss of momentum, but some tentative signs emerged that suggested the worst of the slowdown may be over.

Yen Rallies Versus Euro on Crimea Tensions; Yuan Drops

The yen headed for its longest rising streak versus the euro in 15 months, the ruble slid and Ukraine’s currency fell a fifth day amid tensions over the Crimea region.

Yellen nods to cold weather, says unclear impact on economy

(Reuters) - Federal Reserve Chair Janet Yellen said on Thursday the central bank would be on alert to make sure recent signs of weakness in the U.S. economy are due to cold weather and storms, and not signals of a more fundamental slowdown.

BOE Gets Tough on Foreign Branches in Stability Push

The Bank of England plans to tighten rules for non-European banks seeking a foothold in the U.K. by introducing a series of tests to ensure financial stability.

Tighter policy a tool to deal with U.S. systemic risk -Fed's Tarullo

ARLINGTON, Va., Feb 25 (Reuters) - The Federal Reserve's top regulator waded into the debate over whether monetary policy should be tightened in the face of financial stability risks, saying on Tuesday that such a move cannot be "taken off the table."

HSBC hands allowances to hundreds of bankers to avoid EU bonus cap

Britain's biggest bank, HSBC, has inflamed the row over City pay by awarding allowances to hundreds of its top staff, enabling them to avoid the EU bonus cap.

OECD delivers new global standard to target tax cheats

The OECD on Sunday delivered a new global standard to crack down on tax evasion with more than 40 countries already committing to measures which the European Commission called "a big step" forward.

G20 host Australia urges central banks to avoid 'surprises'

Sydney (AFP) - Australia on Saturday called for better advance notice of policy changes by central banks to avoid shockwaves for emerging economies, at a meeting of G20 finance ministers where rifts over US monetary policy loomed large.

Federal Home Loan Banks' Financial Strength Continues to Lend Stability to U.S. Banking System

WASHINGTON, DC,, Feb. 21, 2014 (GLOBE NEWSWIRE) -- The Federal Home Loan Banks (FHLBanks) today reported strong profits in their preliminary unaudited year-end 2013 combined operating highlights.

Downside of low inflation: A weaker global economy

WASHINGTON (AP) — What the global economy could use right now is a dose of higher prices, though that might be unfathomable to people who still bear scars from the double-digit inflation of the 1970s.

Yen Weakness in Foreigners’ Hands Leaves Abe Exposed: Currencies

Japanese Prime Minister Shinzo Abe is entirely dependent on foreigners to deliver the weaker yen that’s the linchpin of his economic policies.

German government source said U.S. should normalize monetary policy

(Reuters) - Germany believes the United States should normalize its monetary policy and each country must ensure it can cope with such policy changes, a senior German government source said ahead of a meeting of G20 finance ministers and central bankers.

Emerging Market Rebound Inevitable for FLS Paving Expansion

Investors who dumped their emerging-market assets this year ignored the economic reality on the ground, according to the chief executive officer of FLSmidth & Co. A/S, a Danish company that boasts the world’s biggest installed base of cement production lines used to build everything from roads in India to high-rise towers in Brazil.

Financial Stability Board to Examine Currency Markets

LONDON – The Financial Stability Board said Friday that it would review foreign exchange markets in light of a series of investigations into potential manipulation of currency benchmark rates.

Italian Economy Registers First Quarterly Growth Since 2011

Italy’s economy expanded in the three months through December, marking the first quarterly gain in more than two years as the country began to recover from its longest recession on record.

Obama signs order on minimum wage

Starting in 2015, businesses with new or renewed federal contracts will have to pay their minimum wage workers $10.10 an hour.

Stronger-than-expected Germany and France nudge up euro zone growth

(Reuters) - Slightly stronger-than-expected growth in Germany and France pushed the euro zone's recovery up a gear in the fourth quarter and offered potential for a more robust 2014, albeit with risks.

Bank of England signals 'scope' to keep rates low under new guidance

Bank of England Governor Mark Carney was forced to overhaul his six-month-old forward guidance policy today as Threadneedle Street switched aim to take up more slack in the economy before raising interest rates.

Get used to market volatility

Buckle up investors, it looks like it's going to be a bumpy ride for stocks for the foreseeable future.

Fed Shows BOJ Needs More Easing Amid Yen Rally: Chart of the Day

The Bank of Japan’s record policy easing is dwarfed by the Federal Reserve’s efforts, showing Governor Haruhiko Kuroda has plenty of room to expand stimulus after this year’s surge in the yen.

Stocks stabilize; now it’s up to Yellen, Cisco, the consumer

SAN FRANCISCO (MarketWatch) — Stocks ended a big volume week with gains and a dose of stability. The next week’s rush of consumer news, plus testimony from Janet Yellen and earnings from Cisco Systems Inc., will help determine whether that recovery is for real.

Analysis: German court's ECB move leaves sovereignty unresolved

(Reuters) - By referring a complaint against the European Central Bank's bond-buying policy to the European Court of Justice, Germany's constitutional court has sidestepped a crucial dispute over who has ultimate authority in the European Union.

BOE Staff Said to Have Condoned Currency Traders’ Conduct

Bank of England officials told currency traders it wasn’t improper to share impending customer orders with counterparts at other firms, a practice at the heart of a widening probe into alleged market manipulation, according to a person who has seen notes turned over to regulators.

Scottish independence: Cable says RBS would have to move to London

Royal Bank of Scotland's future as an Edinburgh-based bank was thrown into doubt after Vince Cable said it was inevitable the bailed-out bank would relocate to London in the wake of a vote for an independent Scotland.

Signs of emerging market stability soothe Asia forex

SINGAPORE (Reuters) - The South Korean won led gains among emerging Asian currencies on Wednesday, helped by tentative signs of stability in developing markets but risk sentiment remained fragile ahead of U.S. payrolls data later this week.

ECB to reveal strategy for bank health checks by end-March

(Reuters) - The European Central Bank kept the euro zone's top lenders on tenterhooks as it promised to reveal the strategy for its unprecedented review of bank balance sheets by the end of March, giving only scant detail on Monday.

IMF sees limited room for Bank of Canada rate cut

OTTAWA (Reuters) - The International Monetary Fund (IMF) said Monday Canada's central bank is likely to hold its main interest rate steady until early 2015, and the bank has limited room to cut rates because of overvalued housing prices and record household debt.

US judge approves $8.5 billion Bank of America settlement

WASHINGTON: A US judge has approved an $8.5 billion settlement between Bank of America and a group of investors for losses on dodgy mortgage-backed securities whose collapse triggered the 2008 financial crisis.

Biggest fall in eurozone unemployment since 2007

Eurozone unemployment fell for a third month in December, while the number of young people out of work in the region also dropped.

India says will take necessary steps to ensure financial market stability

NEW DELHI (Reuters) - India pledged on Thursday to take all necessary steps to ensure stability in financial markets as it tried to calm jitters over the U.S. Federal Reserve's decision to scale down its economic stimulus.

ECB confronts more signs of weak growth

FRANKFURT, Germany (AP) -- The European Central Bank is facing more signs of weakness in the economy of the 18 countries that use the euro as it weighs whether to add more stimulus.

Turkish central bank makes massive rate hikes to stem lira fall

(Reuters) - Turkey's central bank hiked all its key interest rates in dramatic fashion at an emergency midnight policy meeting, ignoring opposition from Prime Minister Tayyip Erdogan as it battles to defend the country's crumbling lira currency.

UK economy grew 1.9% in 2013 – the fastest growth since 2007

The British economy grew at the strongest rate in six years in 2013, having ended the year on a strong note as the recovery became more entrenched.

Draghi Says Europe’s Recovery Firming With No Deflation in Sight

European Central Bank President Mario Draghi said he sees signs of a “dramatic” improvement in the health of the euro-area economy and that inflation will gradually return to target.

Emerging market chaos hits stock markets and currencies

A series of political scandals and accusations of mismanagement in some of the world's major developing economies triggered turmoil on international stock exchanges on Friday.

Argentina to ease foreign exchange controls after peso slump

Argentina is to relax its strict foreign exchange controls, a day after the peso suffered its steepest daily decline in 12 years.

U.S. economic activity gauge edges up in December

(Reuters) - A gauge of future U.S. economic activity rose modestly in December, suggesting a gradual strengthening in growth.

UK public sector borrowing falls to £12.1bn in December

UK government borrowing fell in December to £12.1bn, down £2.1bn from a year earlier, according to official figures.

EBRD cuts Turkey outlook, but sees improving euro zone steadying region

(Reuters) - The European Bank for Reconstruction and Development cut its economic growth projections for Turkey on Tuesday but otherwise barely trimmed its overall view for its regional emerging markets.

World powers, Iran to activate landmark nuclear deal after IAEA nod

VIENNA/BRUSSELS: Iran has halted its most sensitive nuclear activity under a ground-breaking deal with world powers, a confidential U.N. atomic agency report reviewed by Reuters on Monday showed, paving the way for the easing of some Western sanctions.

'Don't hollow out financial transactions tax', says EU tax chief

(Reuters) - The European Union's top tax official has called on member countries not to dilute proposals for a financial transactions tax in the euro zone, suggesting the bloc could instead implement the plan more gradually.

No reason for 'irrational inflationary fears' - ECB's Weidmann

(Reuters) - The president of Germany's Bundesbank said on Thursday there was no reason for "irrational inflationary fears" and dismissed suggestions of a danger of the euro zone falling into deflation, echoing the European Central Bank's outlook.

IMF warns Slovenia against complacency after fixing banks

LJUBLJANA: The International Monetary Fund (IMF) warned Slovenia on Friday against complacency after taking a first step towards fixing its banking system, urging it restructure the corporate and banking sectors.

Osborne wants above-inflation minimum wage rise

Chancellor George Osborne has said he wants to see an above-inflation increase in the minimum wage. He told the BBC the "economy can now afford" to raise the rate, currently set at £6.31 an hour for people over the age of 21.

Global recovery hopes shore up markets

LONDON (AP) — Japanese shares led markets higher on Wednesday as investor sentiment recovered amid hopes for the global economy.

Some banks easing lending ahead of stress tests: ECB's Honohan

(Reuters) - Some euro zone banks are restricting lending to boost their performance in financial stress tests this year, a member of the European Central Bank's (ECB) governing council said on Friday.

Japan’s Abe Pledges Funds to Help Mozambique Energy Sources Grow

Japanese Prime Minister Shinzo Abe pledged to invest 70 billion yen ($672 million) in development projects in Mozambique during the next five years as he seeks to secure natural gas supplies from southern Africa.

U.K. Industry Production Stagnates as Construction Falls

U.K. industrial and manufacturing production unexpectedly stagnated in November and construction fell the most in more than a year, indicating the economy may have struggled to build momentum in the fourth quarter.

US economy adds 74,000 jobs, rate falls to 6.7 per cent

WASHINGTON: US employers added a scant 74,000 jobs in December, the fewest in three years. The disappointing gain ends 2013 on a weak note and could raise questions about the economy's recent strength.

ECB toughens talk, holds off fresh action for now

(Reuters) - The European Central Bank on Thursday forcefully underlined its determination to take action should euro zone inflation risk turning into deflation or rising money market rates threaten the bloc's fragile recovery.

Loans to business getting cheaper and more readily available, Bank says

Hopes of an end to the prolonged fall in business lending were boosted on Wednesday when the Bank of England announced that loans were becoming cheaper and more readily available to the UK corporate sector.

US Senate confirms Yellen as Federal Reserve chair

Washington (AFP) - The US Senate confirmed Janet Yellen as the new leader of the Federal Reserve, marking the first time a woman has headed the world's most powerful central bank.

Financial risks recede in 2014

For the first time in five years, the big risk for the global economy is not a collapse of the financial system, according to a report by the Eurasia Group released Monday.

Top Fed officials zero in on next policy steps

(Reuters) - The U.S. Federal Reserve, having just reduced its bond-buying program, now appears deep in debate over the best way to unwind its extraordinary stimulus in the months and years ahead.

Osborne’s family business hit by the poor global economic climate

Osborne & Little, the luxury wallpaper and furnishings company majority-owned by the Chancellor’s family, has seen losses widen amid difficult market conditions.

Business lending slump deepens, as mortgage approvals hit fresh high

The slump in business lending has deepened, it has emerged, further sharpening the contrast with a surging mortgage market.

Turkey crisis sends lira to new low as investors spooked

Istanbul (AFP) - The Turkish lira touched a new low against the dollar and shares also slid on Thursday, under pressure from a corruption scandal roiling the government.

China to deepen reforms in 2014 to be rich and strong: Xi Jinping

BEIJING: China will make new strides in 2014 to deepen reforms to make the world's second largest economy rich and strong, President Xi Jinping vowed today.

ECB balance sheet shrinks by 2.1 billion euros in week to December 27

FRANKFURT: The balance sheet of the European Central Bank and the euro zone's 17 national central banks shrank by 2.132 billion euros to 2.285 trillion euros in the week ending December 27, the ECB said on Tuesday.