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Bank of Korea Governor Lee Seong Tae said any future increase in the benchmark interest rate can be bigger than the bank’s usual 25 basis points, indicating he may raise rates at a faster pace in the coming months.
“It’s difficult to say the increase will be by 0.25 percentage point each time” as […]
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Former Federal Reserve Chairman Alan Greenspan said the central bank risks higher inflation by 2012 if it waits too long to start curtailing its unprecedented monetary stimulus.
“We cannot afford to get behind the curve on reining in this extraordinary amount of liquidity because that will create a major increase in inflation down the […]
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European consumer prices fell more than economists forecast in September as rising unemployment curbed demand and oil prices dropped.
Prices in the 16-nation euro region declined 0.3 percent from a year earlier after falling 0.2 percent in August, the European Union statistics office in Luxembourg said today. The September drop was the fourth straight […]
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Iceland can’t afford to wait any longer for its International Monetary Fund review and the transfer of the second tranche of its IMF-led bailout loan, Prime Minister Johanna Sigurdardottir said.
“The review of Iceland’s program has been delayed for way too long,” Sigurdardottir said in an interview in the township of Gardabaer in Iceland […]
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The Obama administration expects Congress will act this year to strengthen financial regulation and rein in executive pay, the Treasury Department’s liaison to Capitol Hill said.
Kim Wallace, assistant secretary for legislative affairs, said he expects lawmakers will agree on a financial regulation plan by the end of 2009. The administration wants better oversight […]
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Bank of America Corp. Chief Executive Officer Kenneth Lewis told investors in Japan his “optimistic side is coming back” and the U.S. economy may rebound more rapidly than expected.
“There is a potential for a rebound that beats the forecasts,” Lewis said in a speech prepared for a Bank of America Merrill Lynch conference […]
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I have to admit it’s getting better. A little better all the time.
Yup, I’ve succumbed to the latest round of Beatlemania — don’t the digitally rendered lads from Liverpool look fab in "Rock Band"? — but so have investors. And Wall Street has been acting more like cheery, optimistic Paul than brooding cynic […]
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The U.S. economic recovery will probably be “lackluster,” hobbled by strains in financial markets and weak consumer spending, Federal Reserve Bank of Atlanta President Dennis Lockhart said.
“Over the medium term, I see a slow recovery with ongoing repair of the financial sector,” Lockhart said today in remarks prepared for a speech in Jacksonville, […]
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The roughly 370,000 employees of Volkswagen and Porsche are striving initially to acquire a stake of up to 5 percent in the automotive group, VW’s labor chief told a German newspaper.
“I don’t know how much we will end up with. It certainly won’t be 10 percent overnight, but between one and five percent to […]
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Lithuania may avoid seeking an international bailout as bond investors in search of yields close to 10 percent return to the Baltic state’s debt market.
The country’s government debt is “very attractive” and “a compelling investment story” compared with its peers in eastern Europe such as Hungary or Romania, said Lutz Roehmeyer, a Berlin-based […]
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