Bank of England Governor Mark Carney said on Wednesday that interest rate will have to start rising to maintain price stability as the economy normalizes. "As the economy normalizes, Bank Rate will need to start to rise in order to achieve the inflation target," Carney said in a speech in Glasgow, Scotland.
The Bank of Spain on Wednesday boosted its growth projections for Spain this year and the next after the economy grew at a faster rate in the second quarter. In its monthly economic bulletin, the bank raised the growth forecast for this year to 1.3 percent from the 1.2 percent seen previously. The projection for the next year was lifted to 2 percent from 1.7 percent.
Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, but signaled the possibility of a rate hike late this year as growth became more established.
The Australian dollar strengthened against the other major currencies in the Asian session on Wednesday after data showed that the nation's consumer prices improved in line with economists expectations in the second quarter.
The Australian Bureau of Statistics said that consumer prices in Australia...
Consumer prices in Australia climbed 3.0 percent on year in the second quarter of 2014, the Australian Bureau of Statistics said on Wednesday.
That was in line with expectations and up from 2.9 percent in the first quarter.
Among the individual components of the survey, prices for alcohol and tobacco...
The dollar rose to its highest in eight months versus the euro on Tuesday as official data showed U.S. inflation continues to pick up.
the Labor Departement said consumer prices rose a seasonally adjusted 0.3 percent in June on higher gasoline prices, after rising 0.4 percent in May. That was in line...
After reporting a sharp increase in existing home sales in the previous month, the National Association of Realtors released a report on Tuesday showing that existing home sales once again rose by more than expected in the month of June.
With energy prices showing a significant increase amid rising gasoline prices, the Labor Department released a report on Tuesday showing that U.S. consumer prices rose in line with economist estimates in the month of June.
The dollar was virtually unchanged against major rivals on Monday amid a lack of catalysts.
On a day shy of first-tier economic data, traders were keeping an eye on the potentially explosive situation in Ukraine following Thursday's fatal crash of a Malaysia Airlines passenger plane.
In the meantime,...
The Ernst & Young ITEM Club estimates the U.K. economy to post the strongest growth among the G7 nations as investment from firms is set to surprise on the upside. The think tank projected 3.1 percent growth for this year, which is higher than the 2.9 percent predicted in the previous Spring forecast. The economy started to rebalance from consumption towards investment and ultimately exports.
New Zealand saw 162,100 visitors in June, Statistics New Zealand said on Monday - up 2,600 from a year earlier and surpassing the previous June high of 159,500 in 2013.
"Visitor arrivals are the highest ever for a June month," population statistics manager Vina Cullum said. "Growth was driven by...
The dollar on Friday neared its highest levels against the euro since early February amid rising tensions between Russia and the West.
The Russian military supplied a Buk surface-to-air missile system to pro-Russian rebels who used it to bring down a passenger jet over Ukraine, a senior U.S. defense...
Showing that the pace of U.S. economic activity continued to expand moderately, the Conference Board released a report on Friday showing a continued increase by its index of leading economic indicators.
Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of July, according to a report released by Thomson Reuters and the University of Michigan on Friday. The report said the preliminary reading on the consumer sentiment index for July came in at 81.3 compared to the final June reading of 82.5.
Members of the Bank of Japan's monetary policy board were content with the pace of the country's economic recovery, minutes from the bank's June 12-13 meeting revealed on Friday - and they expect the recovery to continue.
Downside risks include the pace of the economic recovery in the United States,...