Economy
Jobless Claims in U.S. Decreased in Sign End to Payroll Reductions Nears The number of Americans filing
first-time claims for jobless benefits fell for a second week to
a level that indicates companies are nearing the end of payroll
reductions as the economy recovers.
Trade Deficit in U.S. Unexpectedly Shrinks as Oil, Automobile Imports Drop The trade deficit in the U.S.
unexpectedly narrowed in January as demand for foreign oil and
automobiles dropped.
Greece `Substantially' Underestimating GDP Contraction, Deutsche Bank Says Greece’s economy will contract
“substantially” more this year than the government forecast in
the deficit-cutting plan it gave to the European Commission,
said Deutsche Bank AG economists led by Thomas Mayer.
China's February Inflation Accelerates, Adding Pressure for Stimulus Exit China’s inflation reached a 16-
month high, industrial output climbed and new loans exceeded
forecasts, adding to the case for the government to pare back
stimulus measures.
Swiss National Bank Keeps Benchmark Rate Near Zero as Economy Strengthens The Swiss central bank reiterated
its readiness to counter “excessive” gains in the franc and
left the benchmark interest rate near zero as policy makers
try to nurture an economic recovery.
Greece Paralyzed by Strikes as Unions Protest Against Plan to Cut Deficit Greek hospitals, airports and
schools were shut and police scuffled with protesters as unions
staged the second general strike this year against government
budget cuts to curb the European Union’s biggest deficit.
Japan May Cushion BOJ Balance-Sheet Contraction, `Preserve' Easing Options Japan’s central bank may seek next
week to counter a contraction of its balance sheet caused by the
month-end expiration of an emergency-credit program as deflation
persists in the world’s second-largest economy.
ECB's Mersch Says European Monetary Fund Discussion Is Driven by `Fantasy' European Central Bank council
member Yves Mersch said the discussion about a European Monetary
Fund is being driven by “fantasy.”
Brazil Prosecutors Seek Tax Probe Against Central Bank President Meirelles Brazil’s Prosecutor General asked
the Supreme Court to pursue an investigation into alleged tax
crimes by central bank President Henrique Meirelles, which
analysts say may pose an obstacle to a possible run for elected
office this year.
South Korea Pressure for Low Rates Raises Inflation Threat as Lee Departs South Korea may face accelerating
inflation after Governor Lee Seong Tae left interest rates
unchanged for a 13th month under political pressure, even as his
economy is forecast to be one of the fastest-growing in Asia.
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.
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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