Economy
Inflation Eroding China's Bank Deposits Signals Zhou Must Increase Rates China’s inflation rate outstripped
returns on household savings for the first time in 16 months,
making it harder for officials to damp rising expectations for
price gains.
Australians Working Longer May Prompt Higher Peak in Central Bank's Rate The biggest expansion of Australian
working hours since 1998 may cause job gains to reaccelerate in
coming months, forcing the central bank to raise interest rates
higher than what Governor Glenn Stevens calls a neutral level.
Household Wealth in U.S. Increases at a Slower Pace as Home Values Decline Household wealth in the U.S. grew
in the fourth quarter at a slower pace, limited by a drop in
home values that indicates the recovery in consumer spending
will take time to gain speed.
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.
Indonesia Raises 2010 Growth Forecast to 5.5%-6% on Higher Domestic Demand Indonesia’s central bank raised its
estimate for economic growth this year to as much as 6 percent
from an earlier forecast of 5.6 percent, Deputy Governor Hartadi
A. Sarwono said in a statement on Bank Indonesia’s Web site.
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.
New Zealand January Retail Sales Rise 0.8% as Consumer Confidence Improves New Zealand retail sales increased
for the fifth time in six months in January as consumer
confidence rose and stores dropped prices to attract customers
during their summer vacation.
Philippines Pares Bank Lending Program, Keeps Interest Rate at Record Low The Philippine central bank pared
back a lending program for banks and said it will consider doing
more to reduce cash in the economy, even as it kept interest
rates at a record low.
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.
Trade Deficit in U.S. Unexpectedly Shrinks as Oil, Automobile Imports Drop The trade deficit in the U.S.
unexpectedly narrowed in January as imports fell for the first
time in five months, indicating demand is cooling following the
fastest pace of growth in six years.
Fed's Dudley Says U.S. Should Reduce Budget Deficit Amid Fragile Recovery Federal Reserve of New York
President William Dudley said the U.S. should reduce projected
government budget deficits even though the economy is weak and
may relapse into recession.
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.
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