The Federal Open Market Committee, in an expected move, decided to leave its target for the federal-funds rate unchanged at 5.25 percent for a seventh consecutive meeting, hardly shifting the accompanying statement from the previous meeting. However, the decision has now enticed economists to think [...]
Archive for April, 2012
April 29th, 2012 - 12:26 pm § in News Of Economy
US Federal Reserve leaves interest rate unchanged, amid high inflation threat
April 29th, 2012 - 12:26 pm § in News Of Economy
US Senate passes bill to give FDA sweeping powers on drug monitoring
The US Senate has overwhelmingly passed legislation that will provide the Food and Drug Administration sweeping powers to supervise and regulate drug safety, order changes in drug labels, regulate advertising and restrict the use and distribution of medicines found to pose serious threats to consume[...]
April 29th, 2012 - 12:25 pm § in News Of Economy
Bank of England expected to raise interest rates to 5.5 percent
To curb the growing inflation, The Bank of England is expected to increase its interest rate by 0.25 percent to 5.5 percent by midday. UK inflation rate remain between 2.8 to 3.1 percent, which is well above than government mandated 2 percent level. A number of analysts have warned that rates need t[...]
April 28th, 2012 - 12:25 pm § in News Of Economy
US trade deficit hits a six-month high to $63.9 billion
The US trade deficit surged unexpectedly to beat expectations in March to $63.9 billion, as higher oil prices helped drive total imports to the second highest on record, according to a government report. The Commerce Department said in its report that the trade gap widened by 10.4 percent from Febru[...]
April 28th, 2012 - 12:24 pm § in News Of Economy
US retail sales plummets, prices remain unchanged
US retail sales surprisingly slumped 0.2 percent in April after a revised 1 percent gain the prior month, the US Commerce Department said. Compared with a year ago, retail sales were up 3.2 percent in April, down from a 4.4 percent year-over-year pace the previous month. At the same time, figures fr[...]
April 28th, 2012 - 12:24 pm § in News Of Economy
Inflation driving up pay deals in the UK
The rising inflation in the UK is propelling all pay deals above 4%. A report released by the Income Data Services (IDS) of England shows that the normal pay deal held stable at 3.5% in the preceding three months to April has now crossed one percent more corresponding to the rising level of inflatio[...]
April 27th, 2012 - 12:23 pm § in News Of Economy
China loosens banking regulations
China Banking Regulatory Commission (CBRC) has stepped on the path of liberalization in banking sector by announcing a new policy on Friday. China has decided to allow its commercial banks to buy stocks abroad. In a move aimed at curbing the rising liquidity and check soaring forex reserves in the c[...]
April 27th, 2012 - 12:23 pm § in News Of Economy
Federal Loans for coal plants raises worry for global warming
Despite criticism, U.S government allows soft loans to built coal plants even as Congress promises to take possible measure to limit greenhouse gas emissions. Scientists blame that coal plant disgorges carbon dioxide, which is responsible for global warning. Government pledges to generate pollution [...]
April 27th, 2012 - 12:22 pm § in News Of Economy
China strengthening foothold in Africa through dollar diplomacy
As Shanghai plays host this week to the African Development Bank’s annual board of governors meeting, African countries are expecting that China will employ the event to show that its growing warmth for the continent extends beyond energy and commodities. China, the world’s fastest-growi[...]
April 26th, 2012 - 12:22 pm § in News Of Economy
Chinese shares hit new high despite government warning of speculative bubble
Shrugging off repeated warnings of the China Securities Regulatory Commission that it would crack down on insider trading and share manipulation, China’s main stock index shot up 0.61 percent to a record close on Monday as investors caught up in the market’s bullish sentiment. A strongly[...]