While ECB policy maker Ewald Nowotny argues that there is no need to step up further stimulus in the near term allowing the recently launched measures to materialize in the economy, the OECD reiterated its calls for the ECB to deploy quantitative easing.
People's Bank of China and the Chinese government are ready to slash interest rates again as well as loosing lending restrictions, as they are getting increasingly concerned that falling prices might prompt a surge in debt defaults, business failures and job losses.
On October 31 the Bank of Japan unexpectedly increased the size of its monetary-expansion programme from 60-70 trillion yen per year to 80 trillion yen, attempting to bring consumer-price inflation to 2% and end the deflationary threat which has hampered growth in the economy for the past 15 years.
Business activity in the American services sector rose this month at a slower pace than in October as growth in new business slowed.
German business morale unexpectedly improved in November, suggesting the Euro zone's number one economy is gradually regaining its footing after struggling to grow in recent months.
China surprised markets at the end of the trading week by cutting interest rates in an effort to support the world's second-biggest economy as it is set for the slowest expansion in almost a quarter of a century.
Consumer prices in Canada rose more than expected in October, as prices of gasoline and clothing soared.
Public finances in Britain improved in October, with borrowing excluding banks falling to 7.7 billion pounds, according to the Office for National Statistics.
The European Central Bank stands ready to act and broaden its asset-purchases programme to drive inflation higher as fast as possible, ECB Head Mario Draghi said.
The main topic of the previous week appeared to be the sales tax hike delay in Japan. Being convinced by Paul Krugman, the Nobel laureate, Abe decided to delay for 18 months a second sales tax hike from the current 8% to 10% after the first lift in April led the economy shrank for two consecutive quarters.
Japan's exports grew robustly in October, rising the most in eight months, adding to optimism that global demand could help the world's third-biggest economy recover from recession and support the Bank of Japan's upbeat economic outlook.
Producer input prices in New Zealand dropped in the third quarter as falling farm gate milk prices cut input costs for dairy manufacturers, reinforcing the view inflation in the South Pacific country will remain subdued.
Britain's retail sales, which account for 5.6% of total UK GDP, rose at the fastest clip in six month in October, driven by sales of household goods and spending on food.
The number of Americans seeking new claims for jobless benefits dropped less than expected last week, but continued to point to improving labour market conditions.
Activity in both manufacturing and services sectors of the Euro zone slowed in November, adding to concerns the Euro bloc's economy risks a renewed slowdown.
Despite the recent downbeat data, which showed the Japanese economy slipped into recession, the Bank of Japan decided to keep its monetary policy and its optimistic economic outlook unchanged, allowing some time to assess the effect of its unexpected easing last month.
Activity in China's manufacturing sector slowed in November, with output falling and deflationary pressures increasing, underscoring weak demand in the Asian economy.
For the fourth months in a row the Bank of England policy makers remain split on interest rate hike, with two officials voting for an immediate rate increase, the November Monetary Policy Committee minutes showed.
The subdued pace of inflation is replacing jobless rate as the main reason the Fed is not ready to begin hiking interest rates, minutes of the latest FOMC meeting showed.
Euro zone's current account surplus rose to 30.0 billion euros in September compared with the upwardly revised 22.88 billion surplus in the previous month.
Japan's Prime Minister Shinzo Abe dissolved the parliament and called an early election as he sought to prolong his term and save his Abenomics policies as the country slipped into recession.
The Australian Dollar strengthened against its US counterpart even after minutes from the latest Reserve Bank of Australia's recent meeting showed policy makers' dissatisfaction with current levels of the nation's currency, reiterating it was still above the fundamental value.
Britain's inflation unexpectedly rose last month from the lowest level in five years as transport prices declined less than in the previous year.
US producer prices surprisingly inched higher in October, though underlying trend pointed to a subdued inflation that could foster the Fed to keep interest rates at ultra-low level a bit longer.