Economic News July 25, 2012
The
Bank of Japan will not hesitate to implement additional monetary
easing, if necessary, Deputy Governor Hirohide Yamaguchi said Wednesday. (Jul 25, 2012) Full Article
Consumer
Confidence in Italy improved from the previous month in July, contrary
to economists' forecast for a modest deterioration, data released by
statistical office Istat showed Wednesday. (Jul 25, 2012) Full Article
Thailand's
central bank on Wednesday decided to keep its benchmark interest rate
unchanged at 3 percent for the fourth time in a row, citing stable
economic growth and moderation in inflationary pressures. (Jul 25, 2012) Full Article
The
degree of net tightening in credit standards for loans to enterprises
in Eurozone is likely to remain unchanged in the third quarter, the
European Central Bank said in its quarterly Bank Lending Survey
published Wednesday. (Jul 25, 2012) Full Article
Germany
sold its 30-year debt at a record-low yield at an auction on Wednesday,
in a sign that the safe haven demand has recovered. The safe haven
appeal of German debt suffered a blow after Moody's downgraded the
outlook of the triple A rated sovereign to 'negative' from 'stable' late
Monday, pushing the country's 10-year yield higher yesterday. (Jul 25, 2012) Full Article
There
are arguments in favor of providing a banking license to Europe's
permanent bailout fund, European Central Bank Governing Council member
Ewald Nowotny told Bloomberg in an interview. (Jul 25, 2012) Full Article
Forex Top Story
New
Zealand posted a seasonally adjusted merchandise trade surplus of
NZ$331 million in June, Statistics New Zealand said on Wednesday,
representing 7.9 percent of exports. (Jul 25, 2012) Full Article
Japan
posted a merchandise trade surplus of 61.7 billion yen in June, the
Ministry of Finance said on Wednesday - bouncing into the black for just
the second time in nine months. (Jul 25, 2012) Full Article
Inflation
in Australia slowed in the June quarter to reach its lowest level in 13
years, leaving more room for the central bank to ease monetary policy. (Jul 25, 2012) Full Article
The
pace of economic activity in China has slowed amid intesifying downside
risks, the International Monetary Fund said in a report on Tuesday. (Jul 25, 2012) Full Article
Moody's
Investors Service on Tuesday cut the outlook on the triple A ratings of
the Eurozone's bailout fund to 'negative' from 'stable', in yet another
blow to the region's efforts to contain the escalating debt crisis. (Jul 25, 2012) Full Article
Confidence
among German firms deteriorated for the third successive month in July
to the lowest level in more than two years as heightened tensions
surrounding the debt crisis weighed on business expectations, more
notably in the manufacturing sector, results of a key survey revealed
Wednesday. (Jul 25, 2012) Full Article
The
U.K. economy contracted at the fastest pace in more than three years
due to widespread weakness in construction, manufacturing and services
output in the second quarter. The gross domestic product was down by a
more than expected 0.7 percent sequentially, marking the biggest fall
since the first quarter of 2009, preliminary estimate from the Office
for National Statistics showed Wednesday. Economists expected a more
modest 0.2 percent decline for the second quarter. (Jul 25, 2012) Full Article
Commodities
The
price of gold was moving higher Wednesday morning as the euro spiked
after reports quoted European Central Bank council member Ewald Nowotny
as saying that there are arguments in favor of giving Europe's rescue
fund a banking license. (Jul 25, 2012) Full Article
The
price of crude oil was extending gains Wednesday morning as traders
await cues from the official inventories data, due out later during the
session. (Jul 25, 2012) Full Article
Political News
Vice-President
John Dramani Mahama has taken over as Ghana's interim President
following the death of President John Atta Mills due to throat cancer. (Jul 25, 2012) Full Article
Two
former aides to South Korean President Lee Myung-bak have been arrested
on court warrants as part of an investigation into bribe-taking from
ailing savings banks. (Jul 25, 2012) Full Article
Former Finance Minister Pranab Mukherjee was on Wednesday sworn in India's new President. (Jul 25, 2012) Full Article
Myanmar
Opposition leader Aung San Suu Kyi on Wednesday called for legislations
to protect the rights of the country's ethnic minorities. (Jul 25, 2012) Full Article
Belarusian
President Alexander Lukashenko, who is in the "black list" of the
European Union, has been denied accreditation to attend the London 2012
Olympic Games opening in two days. (Jul 25, 2012) Full Article
A
Philippine court on Wednesday ordered the release of former President
Gloria Macapagal Arroyo on bail noting that the evidence presented
against her in an electoral fraud case was weak. (Jul 25, 2012) Full Article
Currency Alerts
The
Australian dollar strengthened to a 6- 1/2 -month high against the New
Zealand dollar in Asian deals on Wednesday after a government report
showed that Australia's consumer price index rose less than expected in
the second quarter of 2012. (Jul 25, 2012) Full Article
The
euro strengthened against most major currencies at 3 am ET Wednesday
after reports quoted European Central Bank council member Ewald Nowotny
as saying that there are arguments in favor of giving Europe's rescue
fund a banking license. (Jul 25, 2012) Full Article
In
early European deals on Wednesday, the U.S. dollar and the Japanese yen
declined against their most major counterparts as investors reacted to
European Central Bank council member Ewald Nowotny's comments that there
are arguments in favor of giving Europe’s rescue fund a banking
license. (Jul 25, 2012) Full Article
The
British pound fell against other major currencies in the European
session on Wednesday after a report showed that the country's economy
contracted at a faster than expected pace in the second quarter. (Jul 25, 2012) Full Article
General News
Insurgent
violence that left at least 100 people dead across Iraq on Monday poses
a potential challenge to the Baghdad government, but U.S. defense
officials believe Iraq's military is capable of handling it. (Jul 25, 2012) Full Article
A
new decontamination device that can remove a large variety of
radioactive substances, including strontium, has been developed for the
tsunami-wrecked Fukushima nuclear power plant in Japan. (Jul 25, 2012) Full Article
One
person was killed when a 6.4-magnitude earthquake struck off the west
coast of Indonesia's Sumatra island on Wednesday morning, reports said. (Jul 25, 2012) Full Article
Ethnic
violence in India's eastern state of Assam has claimed 32 lives so far
on Wednesday since clashes between indigenous Bodo tribals and Muslim
settlers broke out in Kokrajhar and Chirang districts four days ago. (Jul 25, 2012) Full Article
China
plans to have a high-speed rail network covering almost all its cities
with a population of more than half-a-million by 2015. (Jul 25, 2012) Full Article
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