In Asia on Tuesday, Hong Kong’s Hang Seng Index rose 0.1%, China’s Shanghai Composite inched down 0.3%. and in Japan, the Nikkei 225 crept up 0.1%. Investors are closely monitoring the U.S. midterm elections, with many predicti…
Australia raised interest rates in a bid to control inflation amid an export boom.
The country’s Reserve Bank raised rates to 4.75 % from 4.5%, surprising most analysts, The Associated Press reported.
Booming demand for Australian minerals from Asian countries including China and South Korea has stoked Australian inflation.
“The risk of inflation rising again over the medium term…
Continue reading Australia Raises Interest Rates to Control Inflation
Australia Raises Interest Rates to Control Inflation originally appeared on DailyFinance on Tue, 02 Nov 2010 06:36:00.
The U.K. economy grew 0.8% in the third quarter, twice as fast as expected.
The construction sector helped drive the economy in the third quarter, enjoying its second straight quarter of strong growth, Reuters reported.
Economists had forecast that the economy would slow much more sharply following growth of 1.2% in the second quarter.
“It’s much stronger than expected,” Alan…
Continue reading U.K. Economy Beats Estimates, Grows by 0.8%
U.K. Economy Beats Estimates, Grows by 0.8% originally appeared on DailyFinance on Tue, 26 Oct 2010 06:53:00.
At a meeting in South Korea over the weekend, the G-20 finance ministers promised to avoid weakening currencies to lift exports. They agreed to try to reduce trade imbalances, but stopped short of setting specific targets, as had been proposed by the U…
Prices at the pump got a little more painful over the past two weeks as crude oil continues to rise. Oil has risen as a weak economy and expectations of further action by the Federal Reserve drive the dollar down.
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