New Zealand's economy expanded by 0.3% in Q4 of 2011

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Source: Forexfactory
The GDP of New Zealand grew by 0.3% on a quarterly basis in the last quarter of 2011. The expansion of agricultural and financial sectors managed to offset the contraction of manufacturing activity. However, the figure was below the expectations of the economists surveyed by Reuters who predicted New Zealand's economy to grow by 0.6% in December quarter.

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Thu, 22 Mar 2012 10:40:30 GMT

Bernake warns European crisis has not ended yet

Although European financial stresses have eased, the region has to put more effort to completely resolve its crisis, claimed Federal Reserve Chairman Ben Bernake on Wednesday. He assessed current economic situation across Europe as difficult. Bernake suggests Europe must create a stronger banking system and take steps to boost growth. Moreover indebted countries should work more to reduce their external imbalances. 

Thu, 22 Mar 2012 10:08:31 GMT

Australia and China signed currency swap deal

The central bank of Australia and the People's bank of China have agreed on the currency swap deal. The move serves as new example of China's steps to internationalize its currency. The swap deal worth 30 billion Australian Dollars is expected to stimulate trade and investments between two countries, according to the Reserve Bank of Australia.

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