| US Economic News |
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U.S. Trade Deficit Unexpectedly Narrows In January
With the value of imports falling at a faster rate than the value of exports, the Commerce Department released a report Thursday morning showing that the U.S. trade deficit unexpectedly narrowed in the month of January.
The report showed that the trade deficit narrowed to $37.3 billion in January from a revised $39.9 billion in December. The smaller deficit surprised economists, who had expected the deficit to widen to $41.0 billion from the $40.2 billion deficit originally reported for the previous month.
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| European Economic News |
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Latvian Central Bank Lowers Key Rate
The Latvian central bank lowered its key interest rate by 50 basis points to stabilize economic situation.
The Bank of Latvia on Thursday decided to reduce the refinancing rate to 3.5% from 4%. Further, the interest rate on the marginal deposit facility with the Bank of Latvia was slashed to 0.5% from 1%. The central bank also decided to launch a new seven-day deposit facility and set its interest rate at 1%.
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| Asian Economic News |
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Japanese Jan. Industrial Output Growth Revised Up
Japanese industrial production rose 2.7% on a monthly comparison in January, revised up from the initial estimate of 2.5%, a report from the Ministry of Economy, Trade and Industry revealed on Friday. Annually, production surged 18.5%.
Month-on-month rise in shipments was also revised up to 2.7% from 2.4%. Inventory increased 1.1% compared to the preliminary forecast of 1%. While shipments grew 19.6% from the previous year level, inventory dropped 12.5%.
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| All Economic News |
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Latvian Central Bank Lowers Key Rate
The Latvian central bank lowered its key interest rate by 50 basis points to stabilize economic situation.
The Bank of Latvia on Thursday decided to reduce the refinancing rate to 3.5% from 4%. Further, the interest rate on the marginal deposit facility with the Bank of Latvia was slashed to 0.5% from 1%. The central bank also decided to launch a new seven-day deposit facility and set its interest rate at 1%.
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