The Federal Reserve will likely raise interest rates this year, as long as economic activity picks up, Federal Reserve Chairwoman Janet Yellen said Friday.
From there, the pace of future hikes will be gradual, she added.
In a speech to the Chamber of Commerce in Providence, R.I., Yellen said transitory...
European Central Bank President Mario Draghi reiterated on Friday that euro area economic conditions have improved, indicating a cyclical recovery, and urged the region's governments to make progress on structural reform that is essential to sustain the momentum. "The economic outlook for the euro area is brighter today than it has been for seven long years," he said.
German business confidence weakened marginally from a 10-month high in May and the economy grew at a slower pace in the first quarter, as initially estimated, revealed two separate reports released Friday. The business confidence index fell less-than-expected to 108.5 in May from 108.6 in April, according to a survey by Munich-based Ifo Institute. This was the first fall in seven months but the i
Capital Economics expects global growth to pick up in the second quarter after a soft patch at the beginning of the year, with the expectations attributed to the results of the preliminary purchasing managers' surveys for May.
"We still think activity will rebound strongly in the U.S., but we expect...
The Bank of Japan refrained from easing monetary stimulus further as policymakers assessed that faster economic growth in the first quarter warrants no more immediate actions. The Policy Board of the BoJ governed by Haruhiko Kuroda decided by an 8-1 majority vote to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion.
A leading economic index for China accelerated in April, the latest survey from the Conference Board showed on Friday - rising 1.1 percent.
That follows the upwardly revised 0.5 percent increase in March (originally 0.2 percent) and the 1.4 percent jump in February.
The coincident index was unchanged...
Consumer confidence in New Zealand skidded in May, the latest survey from ANZ Bank revealed on Friday - as its index dropped 3.8 percent to a score of 123.9.
The May reading marks the first decline in three months, and it follows the 3.4 percent jump in April to a reading of 128.8.
A score greater...
The Bank of Japan will wrap up its monetary policy meeting on Friday and then announce its decision on interest rates, highlighting a bust day in Asia-Pacific economic news.
The central bank is widely expected to keep rates on hold at 0.1 percent, although the bank may decide to introduce some form...
The eurozone will survive the current Greek crisis thanks in large part to bold measures taken by the European Central Bank, said Federal Reserve Vice Chair Stanley Fischer on Thursday.
However, in the longer term, "the European monetary union will not survive unless it brings prosperity to its members,'...
Firms responding to the Federal Reserve Bank of Philadelphia's Manufacturing Business Outlook Survey revealed that regional manufacturing activity has unexpectedly increased at a slower rate in May.
Suggesting the paltry economic growth in the first quarter may be temporary, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by much more than anticipated in April.
With lagging supply relative to demand putting upward pressure on home prices, the National Association of Realtors released a report on Thursday showing an unexpected decrease in existing home sales in the U.S. in the month of April.
European Central Bank policymakers agreed that a steady course of monetary policy with a focus on the firm implementation of the Governing Council's stimulus measures must be pursued more intently, the minutes of the April 14-15 rate-setting meeting showed on Thursday.
While the Labor Department released a report on Thursday showing a bigger than expected increase in initial jobless claims in the week ended May 16th, the four-week moving average of claims still fell to a new fifteen-year low.
U.K. retail sales recovered at a faster-than-expected pace on clothing demand in April, providing a notable support to economic growth at the start of second quarter. The volume of retail sales including auto fuel expanded 1.2 percent month-on-month reversing a 0.7 percent fall in March, the Office for National Statistics reported Thursday. This was the fastest growth since November.