Economy 12/27/2006
Economy
New Home Sales in U.S. Jumped 3.4 Percent in November, More Than Forecast Sales of new homes in the U.S. rose more than forecast last month, another sign that the worst of the housing slump may be over.
U.A.E. Central Bank to Convert 8 Percent of Reserves to Euros From Dollars The United Arab Emirates will convert 8 percent of its foreign-exchange reserves to euros from dollars before September after the U.S. currency slumped this year, the country's central bank governor said.
Prodi Seeks to Make Italians Pay Their Taxes, Not Just Pay for Forgiveness Italy's government is, once again, attempting to crack down on tax evasion. This time, there are signs it may actually be working.
U.S. Retailers' Holiday Gains May Trail 2005 on Housing, Costs of Energy U.S. retailers' sales growth during the holiday season may fall short of forecasts because the slowdown in housing and higher energy costs curbed consumer spending.
U.K. House Prices Rise at Fastest Pace in Over Two Years, Hometrack Says U.K. house prices increased at the fastest annual pace in more than two years in December, led by gains in London, research company Hometrack said.
Japan's Industrial Output Probably Climbed to Record Last Month on Exports Japan's industrial production probably rose for a second month to a record in November, as manufacturers increased output to meet rising overseas demand.
Fed Watch
Fed's Fisher Says Rate Increase May Be Needed If Inflation Doesn't Ease Inflation is a greater risk to the economy than slower growth, and the Federal Reserve may need to raise interest rates if price increases don't subside, Federal Reserve Bank of Dallas President Richard Fisher said.
Fed Leaves Benchmark Rate at 5.25 Percent, Says `Inflation Risks Remain' The Federal Reserve kept the benchmark U.S. interest rate at 5.25 percent and suggested a softer growth outlook while continuing to note inflation risks.
Bernanke Builds Fed's Credibility on Inflation by Deflating His Own Office Ben S. Bernanke's greatest inflation victory to date may be in deflating the aura of power and influence surrounding his job.
New Home Sales in U.S. Jumped 3.4 Percent in November, More Than Forecast Sales of new homes in the U.S. rose more than forecast last month, another sign that the worst of the housing slump may be over.
U.A.E. Central Bank to Convert 8 Percent of Reserves to Euros From Dollars The United Arab Emirates will convert 8 percent of its foreign-exchange reserves to euros from dollars before September after the U.S. currency slumped this year, the country's central bank governor said.
Prodi Seeks to Make Italians Pay Their Taxes, Not Just Pay for Forgiveness Italy's government is, once again, attempting to crack down on tax evasion. This time, there are signs it may actually be working.
U.S. Retailers' Holiday Gains May Trail 2005 on Housing, Costs of Energy U.S. retailers' sales growth during the holiday season may fall short of forecasts because the slowdown in housing and higher energy costs curbed consumer spending.
U.K. House Prices Rise at Fastest Pace in Over Two Years, Hometrack Says U.K. house prices increased at the fastest annual pace in more than two years in December, led by gains in London, research company Hometrack said.
Japan's Industrial Output Probably Climbed to Record Last Month on Exports Japan's industrial production probably rose for a second month to a record in November, as manufacturers increased output to meet rising overseas demand.
Fed Watch
Fed's Fisher Says Rate Increase May Be Needed If Inflation Doesn't Ease Inflation is a greater risk to the economy than slower growth, and the Federal Reserve may need to raise interest rates if price increases don't subside, Federal Reserve Bank of Dallas President Richard Fisher said.
Fed Leaves Benchmark Rate at 5.25 Percent, Says `Inflation Risks Remain' The Federal Reserve kept the benchmark U.S. interest rate at 5.25 percent and suggested a softer growth outlook while continuing to note inflation risks.
Bernanke Builds Fed's Credibility on Inflation by Deflating His Own Office Ben S. Bernanke's greatest inflation victory to date may be in deflating the aura of power and influence surrounding his job.
posted by alexsakne at 2:40 PM
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