mynameisandhy Posted April 5, 2011 Author Report Share Posted April 5, 2011 Spanish Economy News and Reviews Print Records New Spanish Unemployment Monday, April 4, 2011 Economic climate in Spain is still not improved, especially when the prism of the labor sector. Registered unemployment rate in March rose 0.8% compared to previous reports. Thus, unemployment in this country has been through the 4.33 million people. According to the ministry of labor, the number of unemployed at this time was the largest since the comparative statistics introduced in 1996. Over the past year, the number of non-workers had jumped 4.01%. March Unemployment increased in all sectors compared to February. The services sector recorded the largest decline in employment in March, as many as 150 thousand more than the figure in January. Spain increasingly establish itself as the country with the highest unemployment in the Eurozone. Statistics Based on EU data, the ratio in February reached 20.5%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 5, 2011 Author Report Share Posted April 5, 2011 UK Economy News and Reviews Vodafone Deal Strengthens Sterling Monday, April 4, 2011 Sterling strengthened supported by expectations of merger and acquisition flows after the British telecommunications company Vodafone agreed to sell its stake in French telecommunications company SFR worth? 7.75 billion. The continued expansion of construction sector also provide a positive impact for the sterling. Construction PMI index rose to a level of 56.4 for the month of March 2011, higher than expectations of 54.7, but not so remote from 56.5 the previous publications. "Strengthening sterling triggered by Vodafone action to dispose of its stake in SFR," said Adam Cole, RBC strategic. "There will be flow of funds that you could sustain a sterling company." Vodafone is also selling 44% stake in Vivendi, with a price tag on the upper limit of analyst expectations. However, traders saw limited impact Vodafone's actions against sterling. "Looks like the market wants to achieve $ 1.62. There is still room reinforcement, but sterling is now testing a key resistance level, "said Neil Mellor, Bank of New York strategic Mellon. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 5, 2011 Author Report Share Posted April 5, 2011 News and Reviews European Economic Zone Euro Zone Inflation Pressure-Stay High Monday, April 4, 2011 The producer price index, euro zone Put the highest increase in 2? last year, is certainly affirmed expectations of ECB rate hike this week. Annual producer price index rose 0.8%, 6.6%, although not as high as 6.7% forecast but remains higher than 5.9% in February publication. The euro weakened after data damping released. Publication recent data continue to show rising inflationary pressures. Data last Friday, show the manufacturing price index also Put the highest increase since records began. ECB, which aims to keep inflation below 2% in the medium term, it could raise interest rates several times this year, starting with an increase at a meeting Thursday after maintaining rates at a low level of 1% in the last three years. ECB President Jean-Claude Trichet, has pointed out there are increasing risks of inflation and higher interest rates in April may occur. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 6, 2011 Author Report Share Posted April 6, 2011 UK Economy News and Reviews UK PMI Services Strengthen GDP Figures Tuesday, April 5, 2011 The biggest sector in the UK economy grows at fastest pace in more than one year until bulanMaret, and this feature confirms the remarkable expansion in the first quarter of that of course will strengthen the UK's GDP growth figures. PMI services index jumped to 57.1 recorded from the previous 52.6 in February and was the highest in the last 13 months. Sterling immediately soared against the USD and the Euro so the data in the related release alter investors expectations against the perceived economic pertumbbuhan going expansion. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 6, 2011 Author Report Share Posted April 6, 2011 FXstreet.com (Barcelona) The Pound has rocketed over the latest sessions, bouncing from 1.6090 yesterday to fresh two week highs above 1.6300 and with room for further appreciation, according to Carol Harmer, technical analyst at CharmerCharts, who sees the pair aiming to 1.6402 Despite having reached oversold levels on short-term charts, Harmer sees the pair revisiting 2011 high at 1.6402: "Cable fulfilled obligation and once we broke 1.6225 buyers were back in the market and we have rallied to 1.6340 overnight. We are overbought short term, but med term charts remain positive and therefore we look for further strength to follow with 1,6402 the immediate target." On the downside, 1.6205 should offer support, says Harmer: "1.6205 will now offer support and buyers should come in at these lower levels looking for a resumption of the uptrend, adding to 1,6185, keeping stops lower below 1.6120." Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 6, 2011 Author Report Share Posted April 6, 2011 News and Reviews European Economic Zone Investors are eyeing CHF due to Central Bank projections, the Middle East crisis, and Libya 5/Apr/2011 Franc slightly stronger when compared with its position at the end of last week which had languished towards 0.9340 level, strengthening the franc is still around because of safe-haven demand factors of the various political crises in the Middle East, North Africa and the debt crisis in the EU zone. The market is seeing that the tension in Libya and several other areas that would not go after making the request will franc rose, this is what still makes franc could strengthen to the level of 0.9192 as daily lows yesterday. At position pairs Euro / Franc own, the market see if the ECB (European Central Bank) actually raised interest rates Thursday tomorrow then the point of 1.3185 will try to achieve, given the position of Euro / Franc is now located at the point 1.3110. Analysts from Credit Suissie themselves consider that although the ECB to raise interest rates in the near future, SNB (Swiss Central Bank) is likely the ECB will not follow this step because the position is already very overvaluation Franc, hike in interest rates will again push to return to the franc 0.8900 level. In Investors and traders will be focused on problem solving the crisis in the Middle East Libya and other woods and see the development of economic projections by the majority of the Central Bank. So do not be strange if the CHF is stilltarget . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 7, 2011 Author Report Share Posted April 7, 2011 Spanish Economy News and Reviews IMF: Spain No Need Helped Wednesday, April 6, 2011 Spain is considered not require an international rescue fund. Similarly, opinion Dominic Strauss-Kahn, head of the International Monetary Fund (IMF). "I'm not sure Spain require any funding support," Strauss-Kahn said in an interview with Spanish media, El Pais. Comments can be a signal that the budget cuts made by the government is running fine. So far, the IMF has not received any request from Spain Madrid debt related problems. "Looks like pension reform, labor and banking has been running well," said the head of the IMF. So far, the condition of Spain is different to what happened with Greece. After Greece and Ireland had received a grant, Portugal is seen as the next state are included in the IMF program. Market participants are still skeptical to address the development of Spain. Last month, Moody's cut its long-term rating of Spain by 1 notch to the level of AA2. Further downgrade could come at any time if the government can not fix the budget system. Not only that, Moody's also lowered rating of 30 banks Spain. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 8, 2011 Author Report Share Posted April 8, 2011 News and Reviews European Economic Zone ECB Raises Key Interest Rate 1.25% Although Perifer Debt Problems Were There Thursday, April 7, 2011 European Central Bank (European Central Bank - ECB) today raised its benchmark interest rate to 1.25% from the historic low of 1%, as expected, making it the world's first major bank to start raising interest rates cycle. Step, which marks the first increase in ECB interest rates since July 2008, carried out despite the debt crisis in the periphery (peripheral) zone euro, after Portugal Wednesday became the third nation in blocks of euro 17 to ask for bailout funds from the European Union. The euro was steady against the U.S. dollar, following the announcement, dropping only slightly from $ 1.4286 at 1145 GMT to $ 1.4280 at 1159 GMT. Bunds also remained stable after the announcement. Markets and analysts will now switch to the monthly ECB press conference, will start on 1230 GMT, where ECB president Jean-Claude Trichet will give you instructions on how banks will walk the path of monetary policy. The ECB also maintain the spread between the main financing rate and the facility overnight fixed rate by 75 basis points, after raising interest rates emergency overnight loans to 2.00% from 1.75%. Deposit rates, or the rate at which banks can store excess liquidity with the ECB overnight, also raised by 25 basis points to 0.50%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 8, 2011 Author Report Share Posted April 8, 2011 The British government wants to strengthen ties with Indonesia Friday, April 8, 2011 The desire was conveyed in a meeting between Prince Andrew as the UK's Special Representative for International Trade and Investment Coordinating Minister Hatta Rajasa in the Office of Coordinating Minister for Economic Affairs, Jakarta, yesterday. Britain wanted to increase investment in energy-related infrastructure, transportation, and manufacturing. Hatta Rajasa said the UK wanted to increase the volume of trade with Indonesia, which now has reached USD2, 6 billion. In addition, the British also wanted to increase the capacity of entrepreneurs and small businessmen Indonesia in entrepreneurship through the application of British Standards Institute. "The British government wanted to increase capacity building, especially increasing the ability of our entrepreneurs," he said after the meeting. During the meeting the UK also wants reform regulations that hinder investment. Hatta also explained that Indonesia is currently conducting a large-scale reforms in all fields, including legal certainty in the attempt. Prince Andrew or known by the Duke of York's visit to Indonesia on 5-7 April 2011. He is scheduled to meet senior representatives from the Chamber of Commerce and Industry (Kadin) and the British Chamber of Commerce in Indonesia. The second son of Queen Elizabeth II was also a meeting with Alliance of Low Carbon Business Indonesia (ALBI) and meeting the infrastructure to support the development of bilateral trade relations. British Ambassador to Indonesia Martin Hatfull said the British Government is committed to strengthen ties with Indonesia. Britain wanted to expand trade and investment as an important key to make this happen. "The visit of His Majesty the Duke of York to Indonesia to be a significant step," he said. Meanwhile, Trade Minister Mari Elka Pangestu said the arrival of Prince Andrew to Indonesia to prove that Britain is a major investor and trade volume between the two countries is increasing. Indonesia's trade with Britain is number two or three largest in Europe. "In Europe, standards are important," said Mari. Britain wants to be able to open a branch for the British Standards Institute in the country. Indonesia had already pioneered the standardization of products lalu.Dengan three years since the opening of the British Standards Institute will allow Indonesia to meet product standards according to the rules of the countries in Europe. Prince Andrew also met Finance Minister Agustin Martowardojo to discuss related issues in the field of financial services. Description The Ministry of Finance said the official visit of Prince Andrew to discuss beberapaisudankebijakanterkait financial services. These include the prospects of Islamic finance in Indonesia and the challenges facing the Islamic financial markets and the public. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 11, 2011 Author Report Share Posted April 11, 2011 Euro consolidate At its Annual Appeal Monday, April 11, 2011 Euro reaches new high at 1.4482 level early Asian trading session related to selling pressure carried by profit-taking brought down about 40 pips Euro, return to session low at 1.4440. Euro now raised again in order to survive his fall in the level of 1.4455, is visually almost unchanged today. "Daily Movements of 1.4485 euro fell briefly below shows the high monthly trade on Friday at 1.4489 level (New York) who will continue in the Asian session and short-term weakening bias still survive in small retracement in the 1.4417/20 level, " quoted from AceTrader Team . However, an analyst from AceTrader recommends that the 1.4400 level will survive and will bring recovery. For the near future, returning to a normal and just above the 1.4489 level will continue strengthening Euro to 1.4500/10. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 11, 2011 Author Report Share Posted April 11, 2011 News and Reviews European Economic Zone (France) French Industrial Production +0.4% in February this Month Monday, April 11 2011 French industrial production rose 0.4% in February, driven by the refinery business and the transportation sector, data showed Monday. January data of industrial production was revised to show 0.7% increase from the initial estimate rose 1.0% in the month, the French national statistics office Insee said. Output in manufacturing rose 0.7% in February from the previous month, Insee said, because the revised data of January showed an increase of 1.5% in the month, from 1.8% initially estimated. In February, the output from refineries and cokeries France rose 3.3%, while the transport sector showed an increase of 2.3%, Insee said. KING_BUNDA 1 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 12, 2011 Author Report Share Posted April 12, 2011 German Economy News and Reviews Inflation Grogoti German Economic Sentiment Tuesday, April 12, 2011 German economic sentiment deteriorated as higher commodity prices and political tensions in the Middle East. The index of economic sentiment, which published a think-tank ZEW institute, declined to 6.7 for April, lower than forecast 7.11 and earlier publications. However, the tough German economy amid global uncertainty index managed to jack economic conditions to be 87.1, the highest level since July 2007. "Despite the positive economic developments, there is risk arising from commodity price hikes," said ZEW president Wolfgang Franz. "The price increase may incur second-round effects that could force the European Central Bank to implement monetary policy more stringent." Last week, the ECB has been raising its benchmark interest rate to 1.25% from 1%, the first increase since July 2008. Financial markets now ekspektasikan ECB rate hike to 1.75% for the year 2011. Although, the German economic sentiment deteriorated, investors seem to still believe in a strong German economic performance. The euro rose even after the ZEW data emphasize the threat of inflation that could force the ECB to raise interest rates again at its next meeting. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 12, 2011 Author Report Share Posted April 12, 2011 News and Reviews European Economic Zone Euro Action eroded Investors Profit-taking Tuesday, April 12, 2011 The euro fell sharply, especially against the yen on Tuesday, fell to below the 121 yen level due to the majority of investors booked profits after the single currency is experiencing a rebound. EUR fell more than 1 percent to as low as 120.15 yen after rising on Monday to above 123.30 resistance (high range in 11 months). The condition of these high prices have finally triggered traders to take profits. But the euro itself still gained more than 11% since January. Against the USD, this single currency had eroded to below the level of $ 1.44, down as much as 0.2 percent. Until last weekend, the Euro has rebounded against the yen and USD length primarily related increase in expectations that the European Central Bank (ECB) will continue to raise interest rates further after last week raised the base 25 points to 1.25%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 13, 2011 Author Report Share Posted April 13, 2011 News and Reviews European Economic Zone (Germany) ZEW Economic Sentiment Down Further Tuesday, April 12, 2011 German economic sentiment declined again in April in light of rising commodity prices and political and social tensions in the Middle East. The ZEW said on Tuesday (12 / 4) observe closely the economic expectations index declined for the second month to 6.7 took place in April from 14.1 points in March. The result is below the estimate of economists at 10.0 points and below the historical average of 26.6 points indicator. "Despite the positive economic developments, significant risk may be a result of rising commodity prices," said ZEW President Wolfgang Franz. "This price increase can go to second round effects which could then force the European Central Bank (ECB) to implement monetary policy more stringent." Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 13, 2011 Author Report Share Posted April 13, 2011 News and Reviews European Economic Zone Two Fundamental prop Euro Sentiment Wednesday, April 13, 2011 Although the thin was corrected from 15-month highest level against the USD, the Euro is still fairly strong by moving in the range of $ 1.4470 in late morning Wednesday after rising yesterday to $ 1.4520 range. Strengthening of the single currency was mainly triggered by news of China's state bond purchases and the country's willingness to buy more of the Spanish government bonds. According to Camilla Sutton, chief currency analyst at Scotia Capital Markets in Toronto, expectations of higher interest rates and the Chinese government's commitment to continue to buy European bonds, has provided support for the Euro. And the news from China also has encouraged the Spanish government bond yield to be lower, but it is positive for the Euro. With the movement which is currently flat, the euro still has the potential to rebound with the past several detainees including first resistance at 1.4490 and then 1.4520. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 13, 2011 Author Report Share Posted April 13, 2011 UK Economy News UK Unemployment Benefit Claims Rise 0.7 Vs -10.2 K 13 April 2011 Data released by Office for National Statistics show the number of UK residents who filed claims for unemployment benefits rose by 0.7 C in March to 1.45 million people. This increase beyond the previous estimate of economists who actually anticipating a decline of about 3.6 K. Claimant Count Change data was previously recorded show a decline of about 10.2 C in February. Other data showed the unemployment rate fell to 7.8 percent in the three months to February from 8.0 percent in the previous month. The number of unemployed fell by 17,000 during quarter reached 2.48 million inhabitants. Meanwhile, the annual wage growth rate including bonuses was reported at 2.0 percent for the three months to February, down from 2.3 percent in the three months to January previous. Whereas if you do not take into account bonuses, annual wage growth rate fell to 2.2 percent from 2.3 percent previously. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 14, 2011 Author Report Share Posted April 14, 2011 Post-Euro greenback eroded Obama's Speech Thursday, April 14, 2011 The euro continued to come under pressure from the strengthening U.S. dollar as investors received positive feedback from the speech of President Obama's plans to cut its budget deficit to $ 4 trillion within 12 years. The European single currency is increasingly difficult to move from its negative region after economic data Eurozone Industrial Production appears below market expectations. Technically EUR in bearish for the intraday trend with lower resistance at the level of support is $ 1.44. Rupture of this level will trigger a bearish continuation to support $ 1.4350 to $ 1.4300. While the nearest resistance is at $ 1.4460, above this level through the EUR will continue to the high range session yesterday $ 1.45. But on the other hand, with ever increasing expectations of ECB rate hike in August, this will limit the further weakening of the EUR Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 15, 2011 Author Report Share Posted April 15, 2011 Moody's Crop Ireland 2 Rating Level Friday, April 15, 2011 Moody's Investors Service today announced the cuts credit rating of the Irish state. Thus, Ireland is now ranked second cut notch from Baa1 to Baa3. Based on the official release, the basis of the decision of Moody's covers 2 things, namely: 1. Expected reduction in the Irish government's financial management and the prospect of weaker economic growth in those countries. 2. European Test Results Stabilization Mechanism (ESM) shows that the Irish have not shown the ability to repay the debt burden. This world renowned financial institutions was the last time the Irish ratings downgrade on December 17, 2010. At that time, Moody's cutting up to 5 notch, from AA2 to Baa1. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 18, 2011 Author Report Share Posted April 18, 2011 News and Reviews European Economic Zone Euro Debt Concerns Related vanish, Targets Next to 1.4280? Monday, April 18, 2011 The euro gave up after a new strain of debt EU members this Monday, had dropped below 1:43 before finally managed to bounce light into the 1.4318 level so far. Greece reports that its debt could be trying mestrukturisasi trigger selling pressure in the single currency, but eventually died down after no official confirmation from the government's default on bond debt. Greece had received bailouts from the EU and the IMF in May but until now still in progress to reduce its budget deficit, as a result of the Euro after reaching record highs 1:45 several times, the momentum began to fade and the market makers so see any reason to do a sell-in levels high prices. Finnish Parliament increasingly muddy atmosphere with reduced government support of Finland to approve the bailout package to Portugal, where approval is required from all EU member before being processed. Based on technical studies, negative sentiment due to debt concerns has brought the pair EUR / USD is translucent under formation Triangle on H1 chart, so that change becomes bearish intraday bias at least test the key 1.4280 support area at this phase. On the top, nearest resistance is at 1.4410 area, see-through over the area to end the correction phase of bearish and bullish scenarios continue to target the area 1.4470 - 1.4520. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 18, 2011 Author Report Share Posted April 18, 2011 News and Reviews European Economic Zone ECB officials Sinyalkan Continued Increase in Interest Rates Monday, April 18, 2011 Officials from the ECB signaled that they will maintain the tightening monetary policy this year as the strengthening of their economies and inflation in phase berakselerasinya fastest pace since 2008. Investors' expectations for higher interest rates by 50 bps in 2011 is still strong, says Ewald Nowotny told Bloomberg News in Washington on April 26. Luc Coene of Belgium said in an interview yesterday that his condition is very possible. The advice said that the ECB will raise rates again soon echoed by other officials at the weekly meeting of the IMF, even after Trichet said that on April 7, will not necessarily be a starting point for another round of interest rate hikes. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 19, 2011 Author Report Share Posted April 19, 2011 News and Reviews European Economic Zone (France) France Growth Strongest To More Than One Decade Tuesday, April 19, 2011 French private sector growth accelerated to the fastest rate for more than a decade in April, but production costs also rose at a sharp pace on record, preliminary results from a monthly survey by the financial company information Markit showed on Tuesday. Flash read French Composite Output Index, a measure of activity based on a partial survey of manufacturing and service companies, rose to 62.4 in April from 59.1 in March, the highest reading since September 2000. A reading above the neutral level of 50 indicate expansion of activity. Markit said the service activity index rose to 63.4 from 60.4 in March, also the highest reading since September 2000. Manufacturing Purchasing Managers Index rose to four-month high 56.9 in April from 55.4 the previous month. Economists expect the reading of the service sector and manufacturing PMI 60.0 55.0, according to Dow Jones Newswires survey last week. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 19, 2011 Author Report Share Posted April 19, 2011 UK Economy News and Reviews UK Fiscal Policy crutch Sterling Tuesday, April 19, 2011 Sterling strengthened, supported by solid Cameron government's determination to cut the UK budget deficit. Fiscal policies pursued by Prime Minister Cameron managed to strut in sterling as investors worried about the possibility of Greece's debt restructuring and the S & P revised outlook for the U.S. credit rating to negative. "The position of Britain is now quite good when viewed from the fiscal side and compared with European and U.S. conditions," said Adrian Schmidt, a strategic Lloyds Banking Group. "The market does not worry about the fiscal situation as the British government still run the policy of trimming the deficit and this helps the pounds." Traders are also quite optimistic sterling to strengthen further amid thin trading volumes ahead of the Easter holidays. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 19, 2011 Author Report Share Posted April 19, 2011 European Sovereign Debt Problems Limiting Strengthening EUR / USD Tuesday, April 19, 2011 The currency of the worst performers the last two days are the Euro, which has weakened significantly, although the ECB officials are continuing talks on the importance of further monetary tightening. Yet since the beginning of this year, investors willing to take risks with the last in a position to buy this currency accumulation ignore signal problem, unfortunately with the problem in smaller EU member states to meet its debt bonds has dragged the euro currency despite the overall problem is not unduly means for the euro zone. New Concerns also emerged in Portugal, similar to the deficit problem in Greece, before investor confidence can be restored easily if there is recent news about the bailout being poured because market participants assume EFSF mechanism will provide financial support if needed. But the issue of restructuring has changed the sentiment is negative because it is feared could merusah EU financial system, particularly in the European banking sector balance sheet, as in France, which holds many securities Greece. Greece step domino effect can also be spread to Ireland and perhaps Portugal so as to alter the stability of the European Union. From the economic side, the euro zone PMI still confirm the monetary tightening and the euro managed to sustain at least for the short term. Based on technical studies, there has been penetration is consistently above the bearish channel on H1 chart, indicating a bullish bias to target the 1.4365 area. Translucent over the area would trigger further strengthening the area 1.4490 - 1.4520. However, excessive reinforcement to the area to be selling opportunity for investors who still believe in the euro zone debt problems and the potential increase in ECB interest rates could damage the economy further. On the bottom side, the nearest support level in the area of 1.4245 - 1.4265, falling below the area to change into a bearish intraday bias to bring the price to an area of key support at 1.4155 before 1.4020 target. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 20, 2011 Author Report Share Posted April 20, 2011 News and Reviews European Economic Zone (UK) Inflation Exceeds Estimates-BOE Report Wednesday, April 20, 2011 16:07 The inflation rate in the UK likely exceed forecasts the Bank of England (BOE) and the latest is a significant risk could soon rise above 5%, the report of the bank's April policy meeting showed on Wednesday (20 / 4). Monetary Policy Committee setting interest rates The BOE voted to maintain the bank's benchmark interest rate at a record low at 0.5% in April and share their assets purchased with stimulus programs have not changed at GBP200 billion. The report shows nine members voted for the same in March. Six policy makers, including Governor Mervyn King, voted for permanent benchmark interest rate on hold and maintain the inventory asset purchases. Andrew Sentance, Martin Weale and Dale Spencer voted for the increase in benchmark interest rates. Sentance to repeat his call for an increase in 0.5 percentage points, while Weale and Dale voted to increase quarter points. Adam Posen once again advocated the expansion of GBP50 billion of asset purchase program "quantitative easing" of the bank. Consumer price inflation fell to 4.0% in March, from 4.4% in February, but although falling, is still a medium-term target of double the BOE rate at 2%. The report showed rising prices for energy, commodities and imported goods led the committee to believe that inflation in the near future will exceed the bank's forecasts as contained in the February inflation report. The report adds that "there remains a significant risk that inflation will exceed 5% in the near future." However, the April report showed the committee assessing the risks to economic recovery and Britain remains at the reference interest rate increases that may damage consumer optimism and spending limits. The Committee is assessing the "hold no benefit in wait and see how many diverse factors prior to the assessment of monetary policy stance." Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 20, 2011 Author Report Share Posted April 20, 2011 News and Reviews European Economic Zone (France) France Growth Strongest To More Than One Decade Tuesday, April 19, 2011 French private sector growth accelerated to the fastest rate for more than a decade in April, but production costs also rose at a sharp pace on record, preliminary results from a monthly survey by the financial company information Markit showed on Tuesday. Flash read French Composite Output Index, a measure of activity based on a partial survey of manufacturing and service companies, rose to 62.4 in April from 59.1 in March, the highest reading since September 2000. A reading above the neutral level of 50 indicate expansion of activity. Markit said the service activity index rose to 63.4 from 60.4 in March, also the highest reading since September 2000. Manufacturing Purchasing Managers Index rose to four-month high 56.9 in April from 55.4 the previous month. Economists expect the reading of the service sector and manufacturing PMI 60.0 55.0, according to Dow Jones Newswires survey last week. Quote Link to comment Share on other sites More sharing options...
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