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US data shows econ recovery still on trackSep 10, 2010 WASHINGTON: New US claims for unemployment benefits fell more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, hopeful signs for the stuttering economic recovery.
The data on Thursday helped to calm fears of a sharp slowdown in growth and implied the economy could start working its way out of a soft patch. ... |
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OECD says recovery slowing,Sep 10, 2010 PARIS: Global recovery looks to be slowing more than expected as growth weakens in rich economies, and stimulus should be extended or stepped up if the slowdown endures, the OECD said on Thursday.
The Organization for Economic Co-operation and Development forecast growth across the G7 group of major economies to average an annualized 1.4 per cent in the third quarter and 1.0 per cent in the fourth, down from 3.2 and 2.5 per cent in the first and second quarters respectively. ... |
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Bank holds rates at 0.5pc, makes no change to QESep 10, 2010 LONDON: The Bank of England kept interest rates at 0.5 per cent for the 18th month in a row and announced no new quantitative easing purchases, in a widely expected decision on Thursday.
British inflation was 3.1 per cent in July, well above the central bank's 2 per cent target, but Bank said last month this was mostly due to temporary factors while future growth was likely to weaken, making rate rises inappropriate for now. ... |
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OPEC says slowing recovery to weigh on oil demandSep 10, 2010 LONDON: World demand for OPEC's oil will be lower than expected this year and next due to a slowing economic recovery and higher supplies from non-member countries, the group said on Thursday.
The Organization of the Petroleum Exporting Countries, in a monthly report, also said the winding-down of government measures to stimulate economies could weigh on consumption in the next few months. ... |
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SKorea cbank holds rates on global woesSep 10, 2010 SEOUL: South Korea's central bank held interest rates steady on Thursday, defying market expectations for a rise, and signalled future tightening would only be modest given growing uncertainties over the global economy.
Bond yields tumbled to their lowest in 20 months and the interest rate swaps spread narrowed as investors scrambled to price out some of the expected rate rises for this year. ... |
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