Economy
Japan Fourth-Quarter GDP Expands 3.8%, Revised From 4.6% Reported Earlier Japan’s economy expanded less than
initially estimated in the fourth quarter as companies slashed
spending on plant and equipment and a measure of prices declined.
New Zealand Won't Raise Interest Rates Until Middle of Year, Bollard Says New Zealand’s central bank said it
will wait until the middle of the year before raising interest
rates as falling house prices and weak consumer spending are
contributing to a slow economic recovery. The currency fell.
Thailand May Raise Interest Rate After Refraining in March to Assess Risks Thailand’s central bank signaled it
may raise borrowing costs as the economy recovers in the coming
months, after keeping its benchmark interest rate unchanged for
a seventh meeting this week.
Fed `Extended Period' Pledge Faulted as Inflexible by Four Policy Makers The Federal Reserve’s pledge to
keep interest rates close to zero for an “extended period” has
come under criticism from policy makers who say it’s restricting
their room to maneuver as the economy recovers.
Unemployment Eased in Nine U.S. States in January, Labor Department Says Unemployment decreased in nine U.S.
states in January, led by an improvement in Michigan that
demonstrates factories are driving the economic rebound.
El-Erian Says World Economy May Face Disruptive Sovereign Debt Imbalances Mohamed A. El-Erian, whose company
runs the world’s biggest mutual fund, said the global economy
may face disruptions because of the simultaneous and
significant deterioration in public finances.
Greece Braces for More Protests, National Strike Over Budget-Deficit Cuts Greece’s unions will shut down
hospitals, airports and schools today in the country’s second
general strike this year to protest Prime Minister George
Papandreou’s latest round of budget cuts to curb the European
Union’s biggest deficit.
Nobel Laureate Spence Says U.S. Economic Recovery to Take `Several Years' The U.S. faces an extended recovery
from the recession even after the government infusion of cash
into stimulus programs and the banking system, said Andrew
Michael Spence, a Nobel laureate in economics.
Swiss Central Bank May Keep Key Rate Unchanged As Economy Gains Strength The Swiss central bank may leave
its benchmark interest rate near zero today to bolster a
recovery from the worst recession in more than three decades.
Latvia Elections May Hamper Austerity, Weigh On Credit Rating, Fitch Says Latvian elections this autumn
threaten to hamper government efforts to push through austerity
measures vital to its international bailout, burdening the
country’s credit rating, Fitch Ratings said.
Sack Says Fed Selling Assets Would Risk Sudden Increase in Long-Term Rates Brian Sack, the New York Federal
Reserve Bank’s markets chief, said shrinking the central bank’s
$2.3 trillion balance sheet quickly through sales of assets
risks a sudden rise in long-term interest rates.
New Normal Becomes Old Normal With Exports Spurring Growth in New U.S. Mix The “new mix” is out to topple the
“new normal” as the paradigm for America’s economic future.
Fed `Extended Period' Pledge Faulted as Inflexible by Four Policy Makers The Federal Reserve’s pledge to
keep interest rates close to zero for an “extended period” has
come under criticism from policy makers who say it’s restricting
their room to maneuver as the economy recovers.
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