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Economy And The Numbers

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A key official at the Federal Reserve sees interest rates rising at a anemic pace over the next two years. The Fed has projected two more rate increases in 2017, but Chicago Fed President Charles Evans thinks its possible that only one will be warranted. "My current dual mandate outlook allows...

Brexit-032917.jpg The United Kingdom began the formal process of exiting the European Union on Wednesday after more than four decades of membership, thus entering uncharted territory for negotiations that is set to last two years. Prime Minister Theresa May's historic letter invoking the Article 50 of the Lisbon Treaty was delivered to the European Council President Donald Tusk in Brussels.

pendinghomesls-032917.jpg After reporting a steep drop in U.S. pending home sales in the previous month, the National Association of Realtors released a report on Wednesday showing that pending sales rebounded by much more than expected in the month of February. NAR said its pending home sales index spiked by 5.5 percent to 112.3 in February from 106.4 in January.

Theresamay-032917.jpg The United Kingdom is leaving the European Union as Britons wished and can look forward with optimism and hope that the best days are ahead, Prime Minister Theresa May said Wednesday, after announcing that her letter invoking Article 50 that triggers the Brexit process was delivered to the European Union.

European Council President Donald Tusk on Wednesday received the historic letter from the British Prime Minister Theresa May, invoking the Article 50 of the Lisbon Treaty, thus triggering the formal two-year long process for the UK to leave the European Union. The UK envoy to the EU Tim Barrow delivered...

Switzerland's economy is forecast to grow at a slightly slower pace this year, the KOF Economic Institute said in its Spring Forecast on Wednesday. The think tank projected 1.5 percent growth this year, instead of 1.6 percent estimated in December. For 2018, GDP was expected to climb 1.9 percent,...

Bank of Japan board member Takehiro Sato said labor market reforms will strengthen monetary easing effects and the inflation rate will increase. In Japan, some labor market practices could be constraints on raising long-term inflation expectations, Sato said in a speech at Yale University in New Haven...

Iceland's producer prices continued its declining trend in February, figures from Statistics Iceland showed Wednesday. The producer price index fell 5.5 percent year-over-year in February, faster than the 5.3 percent decrease in January. The measure has been falling since January 2016. Domestic...

Swiss financial analysts' economic expectations for the next six months strengthened for a seventh consecutive month in March to the highest level in more than three years, results of a survey by the Credit Suisse bank and the CFA Society Switzerland showed Wednesday. The Credit Suisse CFA Society...

Italy's consumer confidence improved for the first time in three months in March, and business confidence strengthened to the strongest level in fifteen months, survey data from the statistical office Istat showed Wedenesday. The consumer confidence index climbed to 107.6 in March from 106.6 in the...

UK mortgage approvals declined in February and consumer credit growth slowed from January, the Bank of England reported Wednesday. The number of loans approved for house purchases fell to 68,315 in February from 69,114 in January. Approvals were forecast to remain at 69,100. The dip in mortgage...

Sweden's economic confidence weakened for the third straight month in March, survey data from the National Institute of Economic Research showed Wednesday. The economic tendency indicator fell to a 4-month low of 109.2 in March from 110.8 in February. Economists had expected the index to drop to 110.6....

Story recast The Thai central bank kept its interest rate unchanged on Wednesday as the economy is expected to grow faster than the previous estimate this year amid subdued inflation. The Monetary Policy Committee of the Bank of Thailand unanimously voted to keep the interest rate at 1.50 percent. The...

Hungary's unemployment rate increased unexpectedly in the three months February, though marginally, figures from the Hungarian Central Statistical Office showed Wednesday. The jobless rate rose to 4.4 percent in the December to February period from 4.3 percent in the November to January period. Meanwhile,...

Swedish central bank is unlikely to raise its key interest rate until the third quarter of next year as core inflation remains low though the headline figure hit 2 per cent in February, the National Institute of Economic Research said Wednesday. "The Riksbank will therefore wait before raising the...

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