UK economy is stagnating

Source: BBC
© Scanpix/AFP
The Bank of England announced that UK economy might continue stagnation for at least half a year more. The bank decreased its growth forecast for the next two years to 1%. The inflation in the UK is about 5%, the highest among EU countries. However, analysts predict a sharp fall in UK inflation rate. Unemployment also is rising as number of unemployed grew by 129, since beginning of the summer to 2.62 million
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Wed, 16 Nov 2011 14:45:08 GMT

Gold futures are rising on Eurozone's woes

Gold futures COMEX Division of New York Mercantile Exchange went up on Tuesday as investors confidence in European markets remains low stimulating demand for precious metals. Gold contracts for December hit USD 1,782.2 an ounce increasing by 0.2%. Other precious metals also added value on European woes. Silver futures for December went up by 1.3% to USD 34.456 an ounce; platinum prices for January delivery

Wed, 16 Nov 2011 16:45:06 GMT

China refutes allegations about undervalued yuan

At recent APEC summit US president has accused China of undervaluing its currency to be more price competitive. China's Ministry of Commerce refuted these allegations as being unjustified. Many analysts claimed yuan is adequately priced and exchange rate of China's currency is not a cause for trade imbalance between US and China.

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