According to the Bank of England minutes for the meeting of November 6-7, the MPC members unanimously decided to keep the main interest rate on the record-low level of 0.5%. Moreover, the amount of bonds' purchases was kept at 375 billion pounds. The BoE officials say that there are no significant inflation risks in the U.K. at the moment, while
Economic activity in almost all the main sectors of Japanese economy grew in September of the current year, matching the experts' expectations. The indicator rose 0.4% from the previous month, advancing for a third month in a row. Manufacturing production added 1.3% after a 0.9% increase in August. Construction sector surged 1.4%, while activity in the service sector dropped 0.2%.
Trade deficit in Japan decreased to 1.09 trillion yen during the last month, however, economists predicted the gap to narrow, reaching 0.88 trillion yen versus a 1.13 trillion deficit in September. On the other hand, exports increased 18.6% on the annual basis, including a 21.1% rise to China, 27% to the EU and 26.4% to the U.S. At the same
The Japanese currency increased on Wednesday strengthening against all of its 16 most-traded peers as drops in European and Asian markets spurred demand for haven assets and as Bernanke signaled that easy monetary policy may be remained until needed. The Yen gained 0.1% to 100.07 per U.S. Dollar as of 8:13 a.m. in London after it dropped to 100.44 on
The Canadian currency dropped on Wednesday falling against the majority of its most-traded counterparts after a report showed that the country's largest export commodity, crude oil, slipped to the lowest in five months. The so-called Loonie fell 0.4% to C$1.0469 per U.S. Dollar as of 5 p.m. Toronto time after it reached the most since November 7 at C$1.0415 yesterday.
West Texas Intermediate oil advanced on Wednesday rising for the second straight session on speculation that fuel supplies in the world's largest consumer of the commodity dropped and Fed may continue its stimulus in order to sustain the economic growth. WTI for delivery in December added 38 cents to $93.72 a barrel on the NYMEX, while the Brent crude expiring
The majority of European stocks dropped on Wednesday before a government report showing that retail sales added 0.1% in October and as housing and health-care gauges indicate an overall health of the U.S. economy before Fed's meeting. The benchmark Stoxx Europe 600 Index fell 0.1% to 322.4 as of 8:25 a.m. London time with three shares losing for every two
Chinese equities increased on Wednesday pushing the local benchmark index towards its highest level in a month after the People's Bank of China ended its currency intervention and broaden the China's Yuan daily limit. The Shanghai Composite Index gained 0.6% to 2,206.61, the strongest level since October 22, while the Hang Send China Enterprises Index also added 0.6% to 11,437.44.
A leading index of economic activity in Australia continued to increase in October with the pace of growth exceeding previous trend suggesting that the country's economy may improve, a report published by the Westpac and the Melbourne Institute showed on Wednesday. The Westpac-MI leading Index advanced 1.2% in October from a level of 0.6% recorded in September.
Economic growth in the Organization for Economic Co-operation and development area grew 0.5% on a sequential basis in the three months to September, the same pace of growth seen in the Q2, a report published by the organization showed on Wednesday. Year-on-year, OECD's GDP rose by 1.4% in the Q3 from a level of 1% in the Q2.
The performance of global economy is likely to slow down, according to a report published by the Organization for Economic Co-operation and Development, as decline in emerging markets weakening the global growth outlook. The world economy is set to expand 2.7% in 2013 compared to an originally expected level of 3.1% projected in May.
Producer prices in the Europe's largest economy dropped for the third successive month in October with the rate of growth exceeding forecast, the latest data released by the Federal Statistical Office showed on Wednesday. German industrial producer price index slipped 0.7% year-on-year in October after it fell 0.5% in the month before.
The British Sterling appreciated on Wednesday rising to the strongest level in three weeks against the U.S. Dollar before the minutes of Bank of England was published showing that the bank's officials maintained the interest rate at record low. The Pound advanced 0.1% to $1.6134 as of 8:02 a.m. in London following an increase to $1.6149 on November 18, the
Employment costs in the world's largest economy increased at a slower pace than economists originally expected in the three months to September, a report unveiled by the Labor Department showed on Tuesday. According to the report, employment costs index added 0.4% in the Q3 after it increased 0.5% in the quarter before.
Online job advertisements in Australia declined marginally by 0.1% in October from the month before following drops recorded over last few months, suggesting that the economy may be stabilized, the Department of Employment showed in a report on Wednesday. However, the country's level of vacancies dropped 17.4% on an annual basis in October.
The U.S. currency weakened on Wednesday falling against the 17-nation bloc currency after the Federal Reserve Chairman Ben Bernanke claimed that the U.S. central bank may continue its easy monetary policy until its needed. The so-called Greenback fell 0.1% to $1.3554 following an earlier drop to $1.3584, the lowest level since November 1.
Wall Street shares closed lower on Tuesday with the benchmark indexes Dow Jones and S&P 500 falling further from their all-time highs as companies from Best Buy to Campbell Soup showed unfavourable results. The Standard & Poor's 500 Index slid 0.20% to 1,787.87, the Dow Jones industrial average fell 0.06% to 15,967.03 and the Nasdaq Composite Index tumbled 0.44% to
Asian equities edged lower on Wednesday tracking stocks on Wall Street after the current Federal Reserve Chairman Ben Bernanke commented the bond purchasing program lifting prices of commodities and weakening the U.S. currency. The MSCI Asia-Pacific index outside Japan slipped 0.6%, while Hong Kong's gauge recorded a small gain and it has added 3% this week.
The German ZEW economic sentiment advanced to 54.6 this month, the 4-year record-high level, surpassing analysts expectation of an increase to 54.0, while the gross domestic product added 0.3% on a quarterly basis and grew 0.6% on a annual basis, meeting the preliminary estimates. Meanwhile, the Eurozone economic confidence increased to 60.2 in November, from prior 59.1, namely 2.9 points
European currency depreciated 0.04% to 1.3499, after closing at 1.3504 on Monday, as investors where concerned about OECD revised global growth forecasts, which were downgraded almost half a percentage point to 2.7% for this year and 3.1% for 2014, while the Eurozone economy is expected to rise by 1% next year, compared to a May's estimate of 1.1%, the Paris-based
Britain's economic expansion May's forecast revised up from 0.8% to 1.4% expected in November, while for the upcoming year the economy is estimated to grow by 2.4%, the OECD said on Tuesday. The Bank of England also increased its Q4 forecast to 0.9% growth and 2013 yearly based rate to 1.6% increase. At the same time the french organization lowered
The Australian Dollar advanced 0.22% versus the U.S. counterpart, trading at $0.9397 at 6:59 am GMT time, the strongest level since November 8, ahead of tomorrow's Fed meeting minutes, which will clarify whether the central bank will continue its assets purchase programme or reduce it sooner than expected on U.S. economic outlook. Nevertheless the RBA said that the Australian Dollar
Precious metal declined 0.17% to $1,270.20 an ounce after Fed president C. Dudley said he was hopeful about U.S. economic recovery, pointing at upbeat employment data and GDP growth in Q3. His comments revived concerns among investors that Fed is most likely to reduce its quantitative easing programme earlier than expected.
A leading index of Japan's economy improved in the month of September, although at a weaker pace than originally forecast, a data revealed by the Cabinet Office showed on Tuesday. According to the data, Japan's leading economic index advanced to 109.2 in September from a level of 106.8 recorded in August, while it was forecast to climb to 109.5.