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China takes action to relax currency
China has today taken action to honour its pledge in making its currency, the yuan, more flexible. On Saturday, policymakers pledged to make the yuan more flexible but then just 24 hours later the...
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Iceland’s central bank cuts interest rates to 7%
Iceland’s Central Bank (Sedlabanki Islands) has slashed its key interest from 8% to 7%. While a cut was expected, it was not as much as economists had forecast after inflation eased and the country’s...
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Central Bank lifts German growth forecast to 3%
Germany’s central bank, the Deutsche Bundesbank, has today lifted its growth forecast for the economy. The German economy, which is Europe’s largest, is expected to grow by 3% this year – much higher...
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Growth predictions revised downwards for Ireland
The central bank of Ireland has today predicted the economy will expand by just 0.2% – lower than its previous forecast of 0.8%. In comparison, the Government expects growth of 1% for 2010 as a whole,...
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Fed restarts stimulus programme as expected
Following a two-day meeting, US central bank, the Federal Reserve, has announced it will introduce a fresh round of stimulus. The move was widely expected after concerns for the US economic recovery...
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Germany sees 3.6% growth in 2010
Germany, which is Europe’s largest economy, posted growth of 3.6% in 2010 – the strongest pace since German reunification in 1990, the Federal Statistical Office said today. Export demand helped to...
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South Korean inflation surges to 27-month high
Statistics Korea has today announced the inflation rate has jumped to a 27-month high – driven by higher food and fuel costs. According to Statistics Korea, the consumer price index rose by 4.5% in...
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South Korean inflation surges to 29-month high
Statistics Korea has today announced the inflation rate has jumped to a 29-month high – driven by higher food and fuel costs. According to Statistics Korea, the consumer price index rose by 4.7% in...
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Chinese inflation hits 3-year high in June
Inflation in the world’s second largest economy reached the highest level in 3 years in June – suggesting that the central bank will continue to lift interest rates. Just last week, the People’s Bank...
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US Fed keeps interest rates on hold
The Federal Reserve’s policy-setting arm, the Federal Open Market Committee (FOMC), elected to keep interest rates on hold between 0% and 0.25% yesterday. Rates have been at the record low since...
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