Japan plays down yen’s 15-year high against the US dollar
Japan refuses to say whether it will intervene in currency markets as concern grows over impact on exports
Japan talked down its strengthening currency today amid concern that companies reliant on exports could be impacted by the yen’s strength against the dollar.
The dollar has hit a 15-year low of ¥84.71, fuelled by the admission by the [...]
Obama’s ‘deal’ with China is oversold | Mark Weisbrot
US pressure hasn’t changed China’s views on currency – and it is not interested in US efforts to ‘isolate’ Iran
The United States and China seem to have reached an agreement with regard to the exchange rate between their two currencies. The agreement is that the US government will stop yelling about it, and China will [...]
Inside Alan Greenspan’s nightmare | Mark Weisbrot
News that wages are rising in China is greeted with dread by those who share Greenspan’s unwarranted fear of rising inflation
Alan Greenspan had a dream, or rather a nightmare. Greenspan seems to have woken up in a cold sweat one morning in fear that the period of “disinflationary pressures” that had kept inflation low since [...]
The real reason for the euromess | Paul Krugman
Greece and other European nations are in trouble because policy elites pushed the continent into adopting a single currency
Lately, financial news has been dominated by reports from Greece and other nations on the European periphery. And rightly so.
But I’ve been troubled by reporting that focuses almost exclusively on European debts and deficits, conveying the impression [...]
US economy races ahead
Financial markets reacted swiftly to the stronger-than-expected growth, with the dollar gaining ground and bond yields rising amid fears of rising inflation in the US economy
The US economy grew at a faster-than-expected 5.7% annualised rate in the fourth quarter, the strongest figure in more than six years, as businesses reduced inventories less aggressively than before.
Growth [...]
Energy prices sore twice as fast as Europe
Organisation for Economic Cooperation and Development said today that,” the rate of inflation on house hold energy bills and food shopping has risen twice as fast then any other country in the EU”. These finds show that the average house holds cost raised by 25% the same as it did last year as well. with [...]
