India's government and the central bank have agreed on a revamp of the monetary policy framework to place focus on inflation, a historic move for the economy as policymakers gear up for stronger growth momentum in coming years. The agreement, dated February 20, states that the inflation target "for financial year 2016-17 and all subsequent years shall be 4% with a band of plus or minus 2%.
Eurozone inflation remained negative for the third straight month in February due to falling energy prices. Nonetheless, the rate of decline in overall prices slowed more than expected, diluting fears of deepening deflation even before the European Central Bank practically starts bond purchase this month. The unemployment rate in the 19-nation currency bloc reached its lowest since April 2012.
Chinese policymakers are likely to show willingness to further boost economic growth, after recent economic indicators signaled moderation in activity, at the annual legislative session starting this week. The People's Bank of China reduced its benchmark rate by a quarter point in a surprise move on Saturday.
Flash inflation, unemployment and final manufacturing Purchasing Managers' survey from euro area are due on Monday, headlining a busy day for the European economic news.
The manufacturing sector is China expanded at a faster pace than originally reported in February, the latest survey from HSBC said on Monday with a revised PMI reading of 50.7.
That's up from 49.7 in January, and it was even higher than last month's flash estimate of 50.1 - and it moves even further...
The manufacturing sector in South Korea expanded at a steady pace in February, the latest survey from Markit Economics revealed on Monday, with a performance of manufacturing index score of 51.1.
That was unchanged from the January reading, which was the highest score since April 2013.
South Korea posted an unadjusted current account surplus of $6.94 billion in January, the Bank of Korea said on Monday.
That follows the downwardly revised $7.02 billion surplus in December (originally $7.66 billion).
The goods account surplus narrowed to $7.09 billion from $8.32 billion in the...
New Zealand's merchandise terms of trade slipped 1.9 percent on quarter in the fourth quarter of 2014, Statistics New Zealand said on Monday - falling for the second straight quarter after six consecutive quarters of gain.
That beat expectations for a contraction of 2.3 percent following the 4.4 percent...
The dollar is currently rising against the Euro and the Japanese Yen Friday afternoon, but is losing ground against the pound sterling. There were a number of U.S. economic reports released this morning, the results of which proved mixed.
Economic growth slowed by even more than previously estimated...
Consumer sentiment in the U.S. deteriorated by less than previously estimated in the month of February, the University of Michigan revealed in a report on Friday. The report said the final reading on the consumer sentiment index for February came in at 95.4 compared to the preliminary reading of 93.6.
Pending home sales in the U.S. rebounded in the month of January, according to a report released by the National Association of Realtors on Friday, with the increase reflecting improved buyer demand. NAR said its pending home sales index climbed 1.7 percent in January.
Business activity in the Chicago area unexpectedly contracted in the month of February, according to a report released by MNI Indicators on Friday. MNI Indicators said its Chicago business barometer tumbled to 45.8 in February from 59.4 in January, with a reading below 50 indicating a contraction in regional business activity.
Economic growth slowed by even more than previously estimated in the final three months of 2014, according to a revised report released by the Commerce Department on Friday. The report said U.S. gross domestic product increased by a downwardly revised 2.2 percent in the fourth quarter.
India's government sees room for big bang reforms and robust economic growth in the fiscal year ending March 2016, the Economic Survey 2014-15, released the Finance Ministry, said on Friday. Economic growth is expected to exceed 8 percent in fiscal 2015-16 and, at market prices, the new estimate implies growth of 8.1-8.5 percent in 2015-16, the survey said.
Industrial production in Japan was up 4.0 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday.
That beat forecasts for an increase of 2.7 percent following the 0.8 percent increase in December.
On a yearly basis, industrial production dipped 2.0 percent - but...