Economy
Wen Rebuffs U.S. Calls for Higher Yuan, Risking Retaliation From Congress China’s Premier Wen Jiabao rebuffed
calls for the yuan to appreciate, risking a further deterioration
in relations with the U.S. where lawmakers and economists say his
stance is hampering a global recovery.
U.S., U.K. Moving Closer to Losing Their AAA Debt Ratings, Moody's Says The U.S. and the U.K. have moved
“substantially” closer to losing their AAA credit ratings as
the cost of servicing their debt rose, according to Moody’s
Investors Service.
EU Finance Chiefs to Weigh Greek Rescue as Ministers Seek to Avoid Bailout European finance ministers will
work on still-secret plans to help Greece overcome its debt
crisis today, while counting on the country’s belt-tightening
steps to make a bailout unnecessary.
Japanese Spending Shift `Welcome News' for World Retailers, McKinsey Says Japanese consumers’ new-found
propensity to shop for discounts and shun luxury goods marks a
“fundamental shift” that may boost foreign retailers in the
world’s second-largest economy, according to McKinsey & Co.
Malaysia Central Bank May Raise Interest Rate Further If Needed, Zeti Says Malaysia’s central bank said it may
increase interest rates further to avert asset bubbles and
discourage risky investments by people seeking better returns,
even as inflation will likely remain “modest” this year.
India Inflation Accelerates to 16-Month High in February on Factory Prices India’s inflation accelerated to a
16-month high in February, increasing pressure on the central
bank to raise interest rates from a record low.
Bank of England Agents Expect U.K. Labor Market Won't Deteriorate Further The Bank of England’s agents
predict the labor market won’t deteriorate in coming months as
businesses keep staff numbers stable.
Foreign Direct Investment in China in February Rises 1.1% to $5.9 Billion Foreign direct investment in China,
the world’s fastest-growing major economy, rose for a seventh
month in February.
Real-Estate Recovery Signaled by Homebuilders' Surge as Fed Unwinds Credit The U.S. housing market is poised
to withstand the removal of government and Federal Reserve
stimulus programs and rebound later in the year, contributing to
annual economic growth for the first time since 2006.
Czech Euro Adoption Is Possible in 2015 at Earliest, Finance Minister Says The Czech Republic may be able to
adopt the euro in 2015 if it meets the European Union’s demand
and cuts the budget deficit to within the bloc’s limits in the
next three years, Finance Minister Eduard Janota said.
Money Rates Rising Foreshadows Treasury Losses as Bernanke Prepares Exit Money market interest rates at
five-month highs show the Federal Reserve is laying the
groundwork to siphon a record $1 trillion in excess cash from
the banking system and sending a bearish signal on Treasuries.
Yellen, Raskin, Diamond May Help Bernanke Exit Stimulus as Obama Fed Picks President Barack Obama’s likely
nomination of three Federal Reserve governors will help Chairman
Ben S. Bernanke plan an exit from record monetary stimulus and
strengthen banking supervision and consumer protection.
Dodd's Financial Overhaul Plan Said to Call for Consumer Division at Fed Senate Banking Committee Chairman
Christopher Dodd will unveil financial-regulation legislation
that may create a consumer division at the Federal Reserve with
power to write rules that could be overturned by a systemic-risk
council, according to a Senate aide with knowledge of the plan.
Fed's Dudley Says U.S. Should Reduce Budget Deficit Amid Fragile Recovery Federal Reserve of New York
President William Dudley said the U.S. should reduce projected
government budget deficits even though the economy is weak and
may relapse into recession.
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