Iceland unexpectedly raised its official discount rate today to 15% from 13.75%. According to the Board of Governors of the Bank of Iceland, inflation has been higher than forecast and its currency, the kroner, has depreciated [...]
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Global| Mar 25 2008Iceland Raises Its Official Discount Rate to 15%
- Global| Mar 24 2008
Large Japanese Business Firms Turn More Pessimistic
The Japanese Economic and Social Research Institute of the Cabinet Office and the Policy Research Institute of the Ministry of Finance (MOF) have surveyed industry leaders of some 15,000 firms and analyzed their assessments and [...]
- Global| Mar 18 2008
Inflation Targeting in UK and CANADA
With turmoil in world financial markets and slowing economies, monetary authorities in some of the countries that have been targeting inflation may find the "target" too restrictive. The release of inflation data in the United Kingdom [...]
- Global| Mar 17 2008
Stock Markets Plunge: Commodity Prices Soar
Stock markets around the world have taken another plunge as a result of the latest turmoil in the financial markets. Peaks and troughs in the stock markets have been successively lower ever since the sub prime crisis erupted last [...]
- Global| Mar 11 2008
The Financial Community in Germany and Economy Watchers in Japan Are a Bit less Pessimistic about Their Economies
Economy Watchers in Japan and the financial community in Germany (as represented by participants in ZEW Survey) are still deeply concerned about the prospect for the future of their economies. The first and second charts show measures [...]
- Global| Mar 10 2008
China's Surplus on Total Trade in Goods Down Sharply in February But Less So With the U.S.
China's balance on trade in goods declined substantially in February to $8.6 billion from $19.5 billion in January. Both exports and imports declined; the former by 20% and the latter by 13%. The unadjusted figures are shown in the [...]
- Global| Mar 04 2008
Slovakia and Romania Report Increases in Q4, 2007 GDP
Contrary to the slowdowns taking place in the United States and Western Europe both Slovakia and Romania reported increases in economic activity in the last quarter of 2007. Slovakia reported a resounding increase of 14.26% and [...]
- Global| Mar 03 2008
Canadian GDP Report Fuels Speculation of a Rate Cut
Growth in the Canadian economy slowed in the fourth quarter of 2007 to 0.79% at an annual rate, the slowest rate of increase since the second quarter of 2003 as can be seen in the first chart. For the year as a whole, GDP increased [...]
- Global| Feb 26 2008
German Business Confidence Improves--A Big Increase In Confidence In Retail Trade
Germany's business confidence rose, if only slightly, for the second month in a row. The IFO Business Climate Index for industry and trade rose 0.7% in February to 104.1 (2000=100) after having risen 0.4% in January. The increase in [...]
- Global| Feb 25 2008
ааа Rise in Singapore's Inflation Spotlights Rises in World Grain Pricesа
Inflation in Singapore rose more than expected to 6.61% in January of this year, 2.2 percentage points above the 4.41% in December. A big part of the rise was due to the government's increasing the valuation of public housing on which [...]
- Global| Feb 19 2008
Japan's Current Account Balances by Region
Japan reported a record current account surplus of 250,012 100 million yen or about $215 billion for the year 2007 about a week ago. The current account balance for the past 12 years is shown in the first chart. Today Japan reported [...]
China and Singapore reported foreign trade figures for January, today. The largest country in Asia and one of the smallest both reported increases in their trade balances for the month. In the year over year comparison, however, China [...]
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